Also noting that the bottom line would look a lot flatter without the windfall gain on fuel costs which could presumably have gone the other way.

For my money, that isn’t a great set of results if you dig. Someone would have to explain how the 10% staffing cost increases is going to lead to growth, and generally have a convincing story on operating costs. The nominal 35% on the ancillaries line looks suspect to me, I can’t see a route from BA strategy to that in H1. I haven’t read the results in detail though, and maybe BAH has gone through the roof or something.

Flying business growth requires price increases and/or route expansion and/or additional capacity, and operational profitability needs attention on costs. So what’s the story for each element, what has been transferred to/from IAG loyalty, etc etc.