Peter Campbell

I've been looking at this and trying to work out what is actually going on.

It is true that the industry perennially has six weeks of visibility, and so only ever has six weeks of visibility.

But there does seem to be things going on at the moment that indicate that it might not be quite as bad as everybody thinks.

I was talking to British Airways on Friday, and they have enough fuel to last them for the entire summer.

Air France was saying last week that they had assurances that there were enough stockpiles of fuel at many of their home airports to last them for months and months to come.

Now, if the war continues and the Strait remains closed for months and months...

then you do get to a situation where strategic reserves will run dry.

But at the moment, on the information everyone has, they think there might be some pockets of disruption.

No one thinks it's going to be an industry or region-wide disaster.

Thank you very much.