OZ is falling to the same pinch that other non-Chinese carriers are facing (this is well documented in the news media for CX and even SQ): The Chinese carriers (there are too many) have too eagerly, with Chinese government support, purchased huge numbers of planes. Many of the connecting routes (via ICN or HKG, etc) to 2nd tier cities in China are no longer attractive skimming opportunities for carriers. As a result I think there are big issues with load occupancy and firms have to retrench....