We're a company in bankruptcy and have been operating on borrowed money.
We can't restructure in bankruptcy without a pilot agreement. Lenders would never support a company without a resolved pilot contract.
No union has indicated to the company that they have any intention other than to sign the agreement. We believe that's what is important.
At first glance the output target is disappointing. But given the company has had so much trouble growing in the past, I think they don't want to set the bar too high.
It's just a company trying to be opportunistic. I would say the Stars alone are worth somewhere between $250 and $300 million, so it was really just a silly, irrelevant idea.
That level of production growth is very hard for a company of Chevron's size to achieve. A big part of that has to be from what they acquired with Unocal. Many of their peers are having a difficult time just getting single-digit growth.
The company remains committed to reaching a consensual agreement.
The company is going to continue on its path, and that is to make every effort possible to reach a negotiated consensual agreement. That's the most important work that we can do. Our efforts are focused on saving this great airline.