Ah, but it took between 9/11 and late 2004 to take any pay cuts. In fact, after the tragedy of 9/11, and billion$ in losses, we still took pay raises in 2002, 2003, and 2004. Yes, we eventually gave them all back--and much more--but that actually was an example of "monetizing" possible PS into actual pay rates. My guess is that the guys who at some point in the late 90s were banging the PS drum were very quiet from 2002-04.

I don't know that anyone is in a hurry to monetize anything--certainly not me! I just know that Wall St hates such huge PS amounts. So what? Wall Street is often far too short-term-obsessed, and I am glad that our company really doesn't care--so far. That said, we need to know that the subject will be brought up at some point. It would have to take some huge "monetizing" for me to vote for any TA that would reduce the PS.

Fascinating webcast.

A LOT of positives, especially for shareholders. We sound very confident, maybe too much so, but this is a monster cash-generating machine. RA seemed to say so much so that debt is going "to zero". $1.5B back to shareholders next year. More upgauging, 10-yo A321's with VR2500 engines next opportunity. Used WB "painful" because of cabin upgrade costs. $300M VS investment recovered by end of 2015. VS JV growth for 2015 fueled by re-allocating VS aircraft slots from Pacific/Africa.

I missed the exact comments about getting pilots in pipeline. Anyone catch it?

Talking about us now...

Most important are people... Relationship with pilots very important... Relationship with us precious.... Would not be surprised/trying to craft a "win/win" by the end of the... before the end date.

There you have it.

Vacation slides. A negative number means you want to slide the vacation days to occur earlier in the month and a positive number means you want to slide the days to occur later in the month. Have I got that right?

Carl

yes...................

Looks like the 757 fleet will stabilize at 90: 16 757-200E's with Lay flat seats, 56 757-200's reconfigured to 199 seats, 18 757-300's with new interiors.

Per the investor day call sounds like they want to grow Virgin's flights to the U.S. next year allocated from other destinations. Does that mean Delta pilots will be marginalized???

Where's the best place to read about this? PBS Guide?

Another thing which Richard mentioned... Dumping the MD88 fleet was a possible scenario. Remember the block hour ratio deal pump and dump... Not saying it's gonna happen but it makes you think...