It is earnings season again, and this time around we're talking through the billions and billions of dollars burned by Delta and United to start.

Also in this episode:

* Fleet changes cost money, but are the values being allocated fair?* New routes from United into the Caribbean and Central America* American Airlines is giving up on 2021 already, at least with respect to elite status in the loyalty program* Is the 737 MAX really ready to fly again?* Eastern Airlines has its eye on Bolivia and Argentina* Some fun with Euro notes

For our Patreon subscribers we have bonus content, including:

* Drama in the South China Sea, as the disputed Pratas Islands take center stage

And plenty more. Enjoy the show!