Leroy: see Friday's Wall Street Journal.

UA reports average 208,000 passengers per day and AA 180K. Also see annual reports for both. Read like a lot to me, too, but numbers don't lie. Or do they? Point is that there are a lot more "elite" members than one might expect but given the number of passengers carried annually, it is not so surprising. And at 4%, allowance is made for the multiple and repeat passengers who do, of course, make up all of the "elites." Mind you, I wouldn't go to the bank with these numbers and will welcome correction on any or all of them.