Narrow,
The points you make are valid, and the rights/wrongs will be debated till the cows come home. However, I think the original point was that there is the potential for a new entrant to EZY now to be LHS in much sooner than if they joined TCX, TOM, BA - which in terms of total lifetime earnings / debt servicing can make a significant difference. We are planning on 100+ Commands this winter.....with steady, measured fleet expansion over the next few years .... so the opportunity is there.