Nonetheless, we look forward to completing the EC review process and then promptly obtaining final approvals from the U.S. and U.K. governments.

Upon receipt of the formal filing, CFIUS will move promptly to initiate the review process and fulfill D.P. World's request for a 45-day investigation.

A great review is great. A bad review is the worst.

Since then, we have vastly strengthened our overall domestic and international route network and have entered into alliances with a number of carriers, all of which will make us a much more vigorous competitor in the west.

Clearly, results such as the ones we reported today are unsustainable. While there are many factors that impacted our results during 2002, including a sluggish economy, high fuel prices, lingering concerns over terrorism and the possibility of a war in the Middle East, the core issue for our company remains a cost structure that is out of step with the revenue environment facing domestic airlines.

Without a doubt, the weakening U.S. economy caused a reduction in business travel that affected our performance in the first quarter.