With Airbus numbers finally in, here's our update for the duopoly in 1Q25. Here's our model tracking the duopoly numbers since 2000. Notes Please use the double-headed arrow at the bottom right of the model to optimize your viewing. There are 21 pages to go through. The charts on page 1 allow you to click on the X-axis to expand the year into months. Some pages have pulldown menus to select a year. We want to draw your attention to pages 11 and 12, which focus on MoM models. This is where the market is most vibrant and bears taking some time to view the data. Page 14 focuses on single-aisles, and you will see that A321neos have now outdelivered A321ceo. This is a milestone moment for Airbus. Page 17 highlights how far behind Airbus is in the freighter business. The A330F was not a winner. Airbus has high hopes for the A350F, a good competitor for the 777-8F on paper. The market will decide.