They only spent 5 million on the advertising/development on LCY. and be honest, AF paid for the Aircraft , 220 Million - Cityjet have never had that in the bank ever....Their main passengers are bankers and business people in the biggest recession in what 20 years.... GWhite said in an interview that their passengers would just buy ecomony instead of business...but their passengers don't choose who they fly with...if the finances get worse the Travel departments of their pax will tighten their belts.
Their losses announced so far where in the March 08 results...wait til the March 09 results come out..The redundancies in Jan were just the start. They have already gone to 2 cabin crew instead of 3...routes will be next...