It does seem as if the scheme, in its current form, is falling apart. Extended leases means lower turnover and less new business.
I thought that we saw the first signs of a recovery with the additions in Q1, but Q2 was a complete anti-climax in comparison. Even if choice improves, APs are way too high for the mediocre offerings. There are four more quarters before we need to make a decision. The clock is ticking….