If you look at what we just did with MESA it might not be too baffling. Sell them to Trans States and Pinnacle for $83 million, let them run them like crap and not meet performance metrics or let them get tired of losing money doing the flying at risk, cancel the contract, take the jets back since we own them, give the jets to someone else who will pay you some money for the opportunity to fly for Delta, repeat process. Delta is out nothing and makes $83 million dollars.

They may not cancel the flow initially but what happens to the flow when Trans States shuts down the flying because they are losing money doing it on an at risk basis? If they cease to exist, then the flow ceases to exist with it. If they are going to fly all the Compass and Mesaba jets at risk on seperate certificates like SkyWest does with ASA, then I give them about 18 months until they throw in the towel and give the jets back. Jets then go to RAH or SKYW and there is no flow left and they don't have to reduce the 76 seaters because the companies technically went out of business. I think the reason SkyWest wasn't in on this deal is they don't want to fly jets on an at risk basis. It will be interesting to see what kind of contracts Trans States and Pinnacle will have with Delta for this flying, but if it is at risk flying with performance measures to meet, I'm not sure how long it will last.