Seems XL are being very sensible in their expansion, given the current tough market conditions. They are expanding into the scheduled market, in order to rely less on the extremely difficult charter market. They have cut capacity, both in terms of fleet and network. NCL used to have 3 based units (inc 1 sub carrier), this summer there has been a dramatic reduction in flights, to just 1 based 737. Obviously their old business model was not financially viable therefore they have reacted appropriately. A wise move.
Together with utilising new aircraft, with better economics and leasing aircraft out in the quiet winter months (which must generate quite alot of revenue) are XL not on track to do well?