Pabely
The report on their investor forum makes interesting reading, the depreciation of the NOK seems to have hit them hard, ditto the losses on the 2015 hedge positions which have been taken into the 2014 accounts.
Long haul is still costing money and DoT delays is a huge distraction.
On the up side the short haul business seems to be doing very well, but with a strike possible that might take a hit, not much expansion or additional aircraft due in 2015 so maybe the expenses will stabilise? forward hedges on fuel seem to been taken at the bottom of the fuel price cycle.
1st quarter report should give a better insight