A detailed analysis of BUA's financial results had shown that raising the airline's profile and quality during Max Stuart-Shaw's tenure meant that costs were growing faster than revenues. Other factors contributing to BUA's rapid cost escalation included high launch costs of several, initially unprofitable scheduled services, as well as an unexpected falloff in traffic as a result of a credit squeeze combined with new overseas travel restrictions due to a tightening of existing exchange controls. This was further compounded by the large number of overheads resulting from the group's complex organisation in which many functions were duplicated and the limited opportunities for independent airlines to operate scheduled services on domestic and international trunk routes in competition with the corporations.