Edge my dear. RE issues were always Summer '05 - read the posts. What have Jan CAA stats got to do with a summer bloodbath. Please read the posts - summer - as in May onwards when Ryanair and Easy have an 1400+ low cost seats per day over summer 2004 in the market from SNN and NOC to London. McKenna and POC at RE admit when yuo speak to them they are scared - guess you can't see that. They are normal rational people.
Simple maths - you fly ATR 72 with 68 seats - you lose just 6 passengers per flight - immediately your load is down at least 10% - and your yield is in the toilet. Simple maths. Read it slowly. Six people decide to take a EURO 1 fare from the 2000 daily available jet seats from SNN or NOC rather than pay EURO 100+ from GWY. Lose six people a flight and you lose 10% load. Simple.