spreadsheet

The excess returns are being used at WS to back fill the owned aircraft being transferred to Swoop to ensure there is still fleet growth at WS.

The data I have shows the fuel burn per seat on a MAX 8 is lower than on a CS300, so an increase in fuel will actually help a MAX 8, let alone a -9 or -10, unless again the aircraft is being used for lower demand route and a MAX is not the right aircraft for the mission in the first place. Agree though, vs. older equipment it will provide an advantage. I saw a guy speak back in the summer of 2014 that predicted the drop in oil when it was sitting at around $100. Saw him again this past summer and he thinks we'll hit $90-$100 again due to the shortage of investment in oil overall, but long term we'll settle in around $60 with the US (and Middle East) ability to turn on the taps and then increase advancements in battery technology potentially tampering demand. Won't claim to be an expert in any of these areas, but it seemed quite reasonable to me.

I don't think you can consider these interchangeable narrow-body aircraft. I think the C-Series will be a great aircraft and there are many routes it will do well on, but that 'old technology' will hold a seat cost advantage the C-Series will not be able to match making it the superior aircraft on many routes.

Was it not stealing existing flying or not shrinking the 737 fleet? I think a basic premise of Encore was the opening of new opportunities and the right sizing of aircraft on some routes.