Treading water... where to from here?, page-9

You own VAH and Qan Hitang? Was always wary of VAH as there are too many vested interests and no clear direction. Being owned by multiple state run airlines who are all natural competitors always jived wrong. Do you see any upside now that they are hedging oil. Do you know what price they hedged at or do they benefit from downside. If they hedged at $40 could be decent turnaround and might take a punt else if they hedged at$50 they may not be competitive.