I am an unabashed fan of CO.
On over 100 segments in the past several years, I've been late (more than 15 minutes) only around a half-dozen times. And I connect through EWR more than half the time. In fact, I have been more than 15 minutes EARLY (and a couple of times 30 minutes early) more often than I've been late.
Anytime there has been an issue, CO employees have never failed to be helpful and courteous. I didn't have to beat them up to 240 me on another carrier when I would miss a connection. A stark contrast to UA, which was quite content to suggest I sleep on the floor in ORD when they COULD have put me on an AA flight home (back before I knew any better)
Their domestic upgrade policy is terrific. I fly $200 - $300 fares on average, and end up in FC most of the time as a SILVER. And the bonuses... Show me ANY airline giving those bonuses that CO was giving earlier this year...
Their fleet is new and well-kept. I suspect that is a big part of the reason why I've been on-time so often is that newer planes tend to break down less frequently.
Their phone agents are always pleasant. They are mistaken from time to time, as it is with any organization, but I've never had an agent who was anything less than courteous and polite.
I compare that to the Gate Agents at DTW on NW - where I have yet to even see a smile even when I pay them a small compliment.
Is CO overrated? If you have a bad experience, it would be natural to think that. But if you fly them often enough, I suspect you'd find that bad experiences are in the minority.
As for me, it has been my experience that CO keeps their promise to get me to my destination on time and treating me in a polite and professional manner. There is no overrating that.
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"I will not be pushed, filed, stamped, indexed, briefed, debriefed or numbered. My life is my own."