Rex, why do you think there are a large number of retirements due in 2020/21? VinRouge wrote something similar above "the forecast retirement bulge is huge." I hope that you are both right, but the retirement due to age prediction that I saw had about 100 retirements per year until 2029, when it increases to around 200. The data behind that forecast is quite old, but senior pilots date of birth hasn't changed.