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Mr Bond’s point is actually very good.

When BA first launched the flat bed, I remember talking to senior management at SQ about how that product would force them to react and change seats from the cradle to a flat bed. Very tellingly, they said that they wouldn’t because 1) the economics of flat beds would be unprofitable and 2) it would cannibalise their 1st class business.

Well, we know how long SQ stuck to that line of thought before they reacted.