Everything I've heard so far is that bookings have not been affected.

Let's face it. Their footprint is going to get smaller. They're not going to be a national carrier any longer,

I think the street overreacted to fuel costs and Y2K. But this is not to say that estimates won't come down for the first quarter. Fuel prices are even higher now and it's very difficult in short term for carriers to control that cost.

They're probably looking at what's happening with Northwest and Delta and probably realizing they have to get their contract cost structure down as well.

Operating two products under the same name has never worked. They've learned a lot from operating a low cost product and now in bankruptcy they can incorporate that into their main line product.

Any amount of savings at this point is desperately needed by the airlines. With the tremendous pressures on airlines, this is one of few areas where they can actually reduce costs. With online purchasing of tickets, more and more channels are becoming available for consumers. If travel agents go out of business, it'll make the system more efficient. It's a hard statement to make, but it's true.