Domestic supply is very tight. And that's terrific for the airlines. So, this is the best pricing environment I've probably seen in a decade. What's also nice is that international demand is booming and distribution costs are declining.

We estimate that after losing $4 billion pretax in 2005 and $28 billion over the past five years, the U.S. passenger airlines could approach break-even in 2006.

UAL shares are trading at post 9/11 lows despite boosting liquidity 9$3 billion in cash, $4 billion unencumbered planes as of 3/020, achieving labor peace and improving service. We cannot imagine an industry recovery that leaves out United, which has the industry's most attractive network.

When BA starts growing aggressively again, then [the U.K. government] will be more willing to open up Heathrow. Why flood the market with supply now?

If you're flying a propeller when the other guys have regional jets, you will lose market share, especially in a weaker economy.

This decision has been how many years? The fact that there had been no decision at all was the same to BA-AA as an outright rejection.