a different point of view, page-6

The trouble with AFG now is that the bankers will be calling the shots for a while, and they are the ones who will know what is going on with AFG cash flow day by day.

Will we know if AFG is still getting leasing customers for the planes etc, or are they being priced out by competitors as their cost of funds has risen?

We might just wake up one morning to find the co in receivership with bank administrators in charge. If assets can be sold quickly at a reasonable price then the bankers will sleep easier.

And there is still the margin loan people who have agreed to wait for six months until the full year result, but not in writing - I wonder how threy are feeling after the HY result? Like signing a commitment not to make a margin call?

Shareholders are going to be holding blind for the next couple of months hoping the banks stay away. The good news is they seem to be supporting the strategic plan for now.

If the asset sales go through and the other divisions mostly hold up the SP will recover - they are on a PE of about 2.5 at the moment on last EPS, you could reasonably expect 3 times that for an sp around $3 IF the bankers are kept happy and debt paid down.