Nikhil Ravishankar

do what they can.

China has a much bigger interest in reopening the street than the US does.

China gets about a third of its energy needs from the Gulf.

The world has reached a new crossroads, whether China and the United States can overcome the so-called Thucydides trap and create a new paradigm of great power relations, whether we can work together to address global challenges and inject more stability into the world.

Yeah, it's been a topic, hasn't it, recently?

But you've got to remember that migration has been a sort of mainstay of our economic performance.

This, if you're referring to the sort of the financial outcome for the airline, it's tied into how long the conflict's going to last.

It won't necessarily get worse from a run rate perspective, but it will mean that it weighs us down as far as our financial results are concerned.

So is that not getting better for you?

Fuel being down is helpful, but it's all context, isn't it?

Normal for us is $85 a barrel.

It's gone down from the heady heights of 200 down to about 150.

So it's down, but not down enough.

I tend to agree with you.

I have to be optimistic about this.

What we are seeing is the recovery is going to be an interesting, it'll take an interesting shape.

The markets have a highly backwardated sort of forward curve, i.e.

that fuel will gradually, well, not so gradually, actually reduce in price down to normal.

But what we're really seeing every time a ceasefire gets announced or otherwise is it's a jagged cliff.

So it drops very quickly, but it'll drop to a level which then represents the true damage to the infrastructure.