The key for 2006 will again be the performance of the inclusive tour front. It's still such a big part of MAN's business and it is under constant pressure from the loco operators. November saw 50,000 fewer IT passengers at MAN than last November, pretty much wiping out all of the gains from Jet2 and so on. the problem is that everyone gets excited about new *scheduled* routes to sun spots from Jet2, Thomsonfly and ignores the fact that this very rarely results in the overall market growing.
One to keep a close an eye on.
loco