Target. Lets bring in kerry. Why has it been this is the third profit warning . Things just arent getting better. If you add up all the downgrades, its almost 1 billion euros. So not looking good. They raised 4 points yesterday two of which we know which is the strike, they also said that theyre seeing some softness on long haul which is the reason they did the first downgrade. They also said theres a pension cost that theyre not going to get. Then fuel. Fuel is dropping but we havent seen a benefit from it yet. So that is also not coming through for them. Management telling us why 2015 is going to be a better year . Theyre being a bit cautious. When it comes to theyre going to be pushing back some plane deliveries. So 777s. Their 2016 deliveries. Its interesting to connect that up with the fuel issues. So fuel, the prices dropping, you are less in need of these efficient planes. So theyre taking a bit of an opportunity. Its interesting to see people discussing fuel and what thats goin
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