Let me give an apology for not noticing in either of your prior two posts where you said that the aircraft have no liens or otherwise on them. I must have just read over that part. If indeed the aircraft titles are free and clear then that certainly does bodes well for the school both in terms of what I want to know (how ATP looks now) and in terms of asset disbursement in the unlikely event of any protection filings. I have been operating under the assumption that ATP would most likely still owe on the aircraft. I do stand behind my analysis of the now-known-not-to-be-the-case situation… having a lease is often preferable to carrying a large amount of relative debt both in terms of operations and bankruptcy. Once again, if I didn’t read so fast I might have caught what you said the first time or maybe even the second… you have made my day since I have been agonizing over this huge purchase of seminols that, but for the fact that ATP actually owns them, could (repeat, could) have had negative implications if they were struggling post Sept. 11. Now if the FAA could just get me my medical…. it’s been 2 months already….