Some people here fail to understand that loads don't mean much. Yields are far more important. If the break even load factor is above 100% flying aircraft full is pretty much charity at the moment. A simple equation works for any airline: revenues minus costs should equal a positive number. I guess it's not the case for any airline business model at the moment. In this respect EK might have been much more profitable in the current environment than RYR for instance as cost of available ton mile is lower than the cost of available seat mile and revenue is much higher. However 115 A380s seating on the ground don't produce anything and are still factored in the fixed costs (I guess a large part of it).