I cannot understand how some people are convinced by statements from accountants.I class them along with bankers,estate agents and politicians,none of whom can be believed to be correct or honest 100% of the time.We all know the expression that accountants can make figures prove anything and that has been shown to be the case on countless occasions.Look at the facts,BA announces losses of 400 million,states that fuel costs rose by 800 million,fuel has now slumped back from the peak of $150 per barrel.You do not have to be an accountant to realise that if fuel remains around $50-$60 per barrel,BA will be around 700 million better off in this financial year,maybe more if the number of aircraft grounded is to be believed.I accept the downturn in premium passenger traffic,however pundits are pointing to an upturn in economic fortunes.Japan saw the highest rate of manufacturing growth for 50 years last month,the london stock exchange has risen by more than 30% since reaching rock bottom in march,even the USA is predicting the worst of the recession is over.I concede that the market is very difficult for BA at the moment,but it will improve,the question is when.Management are hoping to use this downturn to deploy a smash and grap policy on all employees terms and conditions.No wonder there is an urgent agenda.If the economic climate suddenly improves,they will have lost this window of opportunity to reduce pay and conditions.Sceptical,maybe,but BA management over the years have taught me to be sceptical,indeed,disbelieving of statements and dictats.I am still optimistic about BA's long term viability and profitability.The real challenge is not employee costs,it's addressing the enormous NAP's pension deficit,which is a huge millstone around the companys' neck.Let's see how things pan out over the coming months,then we can come back to all our imputs on this topic.