iTMS will not carry charity Band Aid track

The single by ad hoc musical coalition Band Aid, 'Do They Know It's Christmas?' was released with the intention of donating profits from the track to relief efforts in Africa. Because of pricing issues,
the track will not be carried in the iTunes Music Store. Universal Music,
the record company releasing the single, has set a retail price of £1.49, but Apple is firm about offering tracks at no more than 79p ($0.99).

Universal's argument is that they cannot sell the track at 79p because "Band Aid must maximise the cash raised from each sale." Seems like a spurious argument to me – even if they only sold a few hundred thousand (and likely more) of the tracks at 79p via iTMS, isn't that a greater profit margin than selling 0 tracks at £1.49??