10 January 2012 – trading update

Difficult trading conditions in UK domestic air travel have led to the group issuing a disappointing trading update for the quarter to 31 December and the shares have fallen back accordingly.  Although the group believes that its long term prospects will be helped by its reduction in dependence on the UK market and move into Europe, the short to medium term will remain difficult.  In the circumstances there are better opportunities elsewhere.  WEAK HOLD.