"Smaller, more heavily armed? Yes, they almost certainly have the better treasure. How would you like to approach this? Have me set you down, nearby? Or leap off, mid-pass? Or you could stay here, and throw spells." She keeps a wide holding pattern, high above them, giving him a chance to survey the caravan. He'll note a half-dozen standard guards; probably not terribly dangerous, from the looks of them, and three more heavily armed people; a woman in armor, a man in robes, and a man in light armor, with a bow.