Mike Hosking

to be even higher in a year's time.

So, look, I think until fuel prices come down, it's hard to see confidence coming back.

So let's hope that's way off base.

Okay, then British Airways who line up with every airline as far as they can work out the fuel bill.

It's amazing numbers, eh?

Two billion pounds.

Yeah, that's right.

The fuel bill's got up from 7.1 to 9 billion, so a two billion euro headache.

The numbers are actually pretty good.

Their revenue was up 77%, so 351 million euros.

That was obviously the earnings.

The revenues are up 2%, 7.2 billion euros.

They do expect lower annual profit than previously guided, and fuel certainly changed the picture there.

They're actually a bit better placed than most airlines, Mike.

They actually hedged 70% of their fuel at lower prices, so that's good.

It could have been worse.

And they expect to recover around about 60% through cost and revenue actions, so that's

They're basically saying fair rises are going to come through, particularly at BA.

That's sort of helping things as well.

So basically premium travel, transatlantic demand still doing well.