Mr. Stephen Kent:

The deal lasted for 19 months. It was a temporary solution to get us over a hurdle. Significantly, competition in the marketplace also changed, which impacted on our commercial routes to some extent. We had to deal with new competition on routes, which slowed our revenue growth. Some of the steam was taken out of the revenue line, which placed more pressure on the cost line. The temporary fix addressed some of that, but we are now back in an environment in which many of those costs that had once been in our favour no longer are. I am referring to fuel, the level of insurance premiums in the marketplace - members will know what has happened in that regard - and competition. These three major factors combined to create more pressure and dilute profitability in the past 12 months.