@cnn - The hedges are rolling off. The one-time hit FY 2008-9 took care of it. The cash losses (as the hedges mature) do concern me but KQ has enough cash to pay them off.
The increase in oil from $50 to $70-84 since 30 Sep 2009 will (sorta) benefit KQ though I prefer lower oil prices.
The 1H was affected by a huge 1-off charge (600mn) for the crew (strike)... this was an amount that included some back-dated payments.
2H seems to have better prospects (as said at the AGM)... and WC 2010 will provide a boost for KQ's 2H results.
@Pierce - I put my money where my mouth is... and I am invested in KQ... the higher the better...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett