I think it is plausible that deflation in air fares has had a short term effect on TTV, but once it is factored in, should be good for business - acc to analysts anyway. They are also gradually reducing their reliance on people.
The 2% margins would only be possible with a huge increase in productivity I suspect. They seem to be getting the productivity increases over time. Covid has made it difficult to see perhaps.
Will be interesting to see how CTD goes.
I think it is plausible that deflation in air fares has had a...
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