The Group’s performance in the first six months of 2015 was considerably better than in the same period in 2014. There were higher load factors in our passenger business, reflecting strong economy class demand. The increase in demand in air cargo markets which began in summer 2014 continued in the first part of 2015, but demand slackened in the second quarter. There was an improved contribution from our subsidiary and associated companies. Air China’s profits were significantly higher, principally as a result of lower fuel prices.