Some very interesting points Peter on the capacity vs demand issue in the winter.
However, you seem to be under the impression tht bmi baby are competing directly with bmir on the same routes. This is not the case. Baby now operate routes such as DUB, AGP, FAO etc instead of bmir, not as well as. Although clearly this means some substitution issues are at play, the theory I guess is that increased volumes will compensate for lower yields.
682