How sensitive is the PRASM to evaluating HVF defections? Anecdotally, among the 20 or so folks that I know well enough to have an understanding of their United travel patterns, about 2/3rds (including a half dozen based in Houston) have moved the bulk of their business to other airlines, mostly AA.
Can a flat or declining number give any insight or is it simply overwhelmed by other, larger factors in the airline's performance (route structure, fleet choice, etc)?