The number of passengers increased by 4.0% to 8.42m in the last month which brought the ytd number to 22.3m (+3.6%). However, management increased the offer by 6.8% while demand was up by ‘only’ 5.4%. Consequently, the SLF fell by 1.0pp to 76.5% in March and by 0.9pp to 74.9% in Q1. The group’s SLF was up to/from Middle Eastern/African destinations in both the last month and ytd. However, it fell to/from all other destinations with APAC having been particularly weak. In fact, the number of pas ....