I would say the more interesting question to ask, is which termination trigger will be the one to end the LOA. I would guess the 80% load for one quarter. Depending on how aggressive/low-yields the company will go this summer, I don’t think a Q3 with 80% is out of the realm of possibility. Not likely, but possible.

if the cash flow situation gets in hand, maybe 2 quarters of profitability Q3 and Q4, even if loads are 60-70%