All fair points. However, if long-haul economy fares have to double to cover the fuel cost, along with recession/credit crunch/inflation/falling household income, many leisure pax will trade down to save money - "not LA this year, family, let's go to the Med". Short-haul in general picks this traffic up, partially compensating for the really cheap RY customer who stops flying because of the fare increase to cover fuel. My point is that long-haul does not have anything to replace the lost traffic, which is why I think it's more vulnerable in the coming downturn. I think there'll be some B744s joining RY's B738s on the ground for the winter.