The positives seem to be the following:
- financing of 777 finalised
- no recapitalisation required
- fuel prices down
- flexibility in capacity management
- strong cash position (not bleeding cash)
Negatives:
- very little transparency in hedging positions
- around $200m hit due to IFRS
- $200 going opposite way for unrealised forex gain (what happens if USD starts to tank?)
- no guidance for half year
no whoooooosh or take off, page-5
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