Mr. Stephen Kavanagh:

The opportunity here is generated by simply having access to more global consumers, whom we cannot necessarily reach on a stand-alone basis. For example, we have just come through a significant investment period in Shannon Airport where we reinstated year round direct services between the airport and North America.

That challenged Shannon-Heathrow, because the majority of passengers from Shannon through Heathrow are passengers returning to the US across the Atlantic. It challenged it because we were dealing with a zero sum game. We were just moving existing demand from one aircraft to another. The real opportunity here is that we have access to more customers. We have partners who will actively sell Shannon. Rather than having to make those decisions knowing that we will compromise, the objective is to have more demand than we have seats. Ultimately, this is every airline planner's objective and this is what the proposed transaction brings to Aer Lingus. Literally, it brings more customers for existing services, which sustains existing services, but also provides an ability to grow at a far more accelerated rate.