The rail and weather disruptions were well flagged before the...

The rail and weather disruptions were well flagged before the update and there had been selling pressure for some time. More to the point is LAU is not alone in feeling these pressures and other operators/competitors are largely in the same boat. The transport business usually tracks the broader economy and the resilience of the economy should result in these headwinds being short lived. The knee jerk reaction to the the latest announcement gave a rare opportunity to buy at heavily discounted prices and with a new CEO keen to make his mark, even, I suspect, overstating the the severity of the downgrade, means the next report may prove a surprise on the upside. I've seen it happen before.