Ok, more to point for all the CEOs. Joyce has always told us about the fickle nature of aviation. He has always mentioned SARS, 911, bird flu, GFC, oils prices and many others over the years and yet he has failed to provision for the next inevitable black swan event. Like most he has pursued a capital lite, highly geared business model as espoused by the various management consulting firms. So highly paid, yet no ability to ensure the viabilty of the business in the event of an already forecast event. Enriching himself with a short term focus at the expense of the business. Isn’t his job to anticipate these events? You wouldn’t run your household this way!!!!