Well that explains why the new Q400 has not been used much, and why there is talk about others being parked up.
Makes you wonder if the E175's may end up being subject to some deferment too, until the market conditions are better, or maybe they will replace E195's, rather than Q400's, to improve headline load factor and yield numbers.
They must be sweating on that unhedged fuel position for the second half of the 11/12 financial year too.
Still seem well placed to benefit when the economic upswing does eventually come, but until then, it looks like they will have their work cut out to keep the stock markets on-side. Sir Jim needs to pull off one of those much vaunted 'deals' to get a profitable foothold in Europe to re-establish confidence.
Overall, things not looking quite as rosy as they were portrayed at the time of the IPO.