MikaWe've known for a while that VBA was intending to buy some...

Mika

We've known for a while that VBA was intending to buy some new planes. Brett even highlighted this in his half yearly presentation. He told us that VBA had entered into an in principle agreement with Boeing. What is new is that it sounds like they got a great deal on the planes - "drop in operating costs and lowering of the fleets cost base" + alot of optionality and flexibilty. Remember all the upgrades came out after the release of the half yearly results and the buy and sell side where fully aware of the upcoming orders for new aircraft. This announcement is not driving the share price down.