I think that the results are great and I believe there is still...

I think that the results are great and I believe there is still significant upside here - clearly with the average price paid for oil at $92 for the year they are still taking a hit from the collars they put in place last year. Those positions should work themselves out in the next 6 months so next year will be even better. With oil currently at $73 there is a massive cost saving potential if they can lock in around that price for the next 12 - 18 months.

It's also telling me that the international routes are not losing as much money as expected. I'll be really interested in how V-Australia is traveling at the half yearly.

The fact that this was announced so close to their half yearly results is encouraging - I think it is safe to assume the higher end of that 80 - 110 M range.

Pity it was announced before what will be a pretty crappy day across the market - it will track back well into the 60's if the market recovers.

GLTA