thereafter, right?

Well, yeah, I hadn't quite gotten there yet.

But yeah, of course, the pandemic happened.

I was thinking about the first Trump administration.

There were some, some things we dealt with, but yeah.

And then that COVID hit there.

And then, uh, under secretary Buttigieg, there was, you know, constant, uh, we played a lot of defense, a lot of defense, and there was a very active, uh, regulatory DOT.

Yeah.

What keeps you up at night, John, from an airline perspective?

Yeah, I think that you're right about historically that was the case where the aircraft coming in at the wrong time.

I think that has been especially true for a couple of the ultra low cost carriers where they just didn't have enough demand to themselves to absorb that additional capacity.

And I think for the rest of the business, the pent-up replacement needs are so significant that it's not a problem where it's more, okay, we finally get to park that old one that we held on to a little longer where we're waiting for the delivery.

So I think the answer depends on where you sit in the industry, and I'm less concerned about that.

I think airlines have also gotten... much better at managing their off-peak capacity and moving airplanes around and are pretty agile about that.

They're not sort of as stuck or as prone to over-order as perhaps some of their predecessors were two, three decades ago.

yeah