Yeah but I think it is worth pointing out that the likes of FR and ezy are not doing as badly as many, including their own management, thought they would be doing. I can accept positive load factors up to the end of oct 08 were down to bookings made well in advance, but load factors over xmas for FR and ezy have indicated that the demand for discretionary air travel has not slumped just yet.
It is still hard to call just how far demand will drop off, as poor load factors for the next two months are to be expected whatever the economic picture. easyJet's cautious forecast of profit for the next year is dependant on the summer being better than current expectations. If it is, maybe that raft of airline failures will be somewhat smaller than expected aswell.
Although for anyone about to sign up to an integrated course, I've been paying off my debt from CTC to the bank at a rate of £1000 a month for the past 30 months. I borrowed 60K, in 2004, at a rate of 2% above base. How much do you think I still owe HSBC?
Answers on a postcard..............