Still, with fuel prices so high, the last thing you want is an interruption in your revenue stream.

[The salt in the wounds for the industry: Short-haul flights tend to command higher fares.] There's a lot of business travel in short haul, ... That certainly hurt us.

The load factors are unprecedented, and in a pre-9/11 environment, this would clearly be a boon to (higher fares). With the way things are, we are only getting a modest (fare) benefit.

I still see the economy as absolute the No. 1 factor, (even with) as many other factors as there are nowadays.

There's no question we never anticipated that kind of fuel reduction, ... We thought fuel prices would be going up, and instead the second biggest part of our operating pie had a big reduction.

The number of people flying is less horrific than it was shortly after the 11th.

Everything that relates to cash matters now. It would have been helpful to have the payroll taxes deferred, but this will go part of the way.

The consumers are saying, 'The only time I'm going to travel, I'm going to make it count,' ... While there's some legacy fear factor and some legacy hassle factors, I think it's economics that still rule. As we head into heavier summer travel, we'll be working against our own recovery with some of the delays due to new security measures.

Surely there is some residual fear or sensitivity to the announcement of threats, but clearly less than there was after 9/11. A greater residual is economic fallout from 9/11 and corporations being fiscally conservative on spending.