Ferd,

Me too. If this deal was so bad, I think we would have been much (much) more vocal in opposing it. One letter by Moak, and one letter by congressional members asking for reasonable terms does not a spirited opposition make. I don't care what AMR says about our lobbying: it doesn't look like an effort to kill a deal. Just to make a deal bearable. 5th Freedom rights go away, and we're not in the streets with pitchforks?

And now... we applaud the results. That could tell you we're trying to put a brave face on things and trying not to look even more desperate for a JAL deal. Or maybe not.

Here is another thing I find interesting. Our stock on Friday during the day went up about 50% more than AMR. Our stock Friday after hours went up over 100% more than AMR's. I wonder why.

I don't know the answers to all the questions, but I'm going to sit tight and see what happens. Besides, I've said it before: this maybe a case of "winners lose". As an investor, I want JAL. As a pilot, I'm not sure. Not everything that's bad in the medium-term for Delta is bad for me in the short-term, or long-term. Maybe it's better if we scramble for a competitive response.