Overun, good summary.
What do you say though to the notion that
VB, with its single type, will run into the law of diminishing returns on the SYD-MEL route at some stage? Unlike QF, they can only manage higher bookings on this route by putting more departures on, whereas QF can throw anything from a jumbo to a 737 at it if needed.
To my mind, if
VB is to grow much larger, they probably need one more type in the 767 size range to overcome that problem. That will require additional capital outlay and a break from the business model, but I wonder if it is being looked at.
But I agree tht
VB is not in any sort of trouble, merely the growth of the last few years has been arrested by J* and other factors such as I mention.