I could be very wrong, but was the model for
VB the operation of Southwest in the USA.
Now I am out on a limbe here too, but one of their crew specifically made a point of saying even when PAX numbers are low, their freight contracts keep the flights viable.
now if this is the case it might be why Southwest are one of the few US carriers that do alright in tight times. Maybe other things like fuel heding etc too, but they may have a good system going.
I am outa here now.....exhausted my vast knowlege of freight ops.
J