Dilution Calculation, page-6

Webjet makes most of its money OVERSEAS. Although it us the largest OTA in Australia and New Zealand there is little money made in domestic travel and not much from the NZ operations hence when operations begin within Australia and over to NZ I don't think it's going to have much impact on earnings Airlines are going to trim their commissions in order to cut costs and hotels will do the same in the short term. The money will be made OVERSEAS Europe India and Middle East and who knows what form this will take. Commissions will be cut and movement will most likely be from within the borders .The only saving grace will be the possible reduction in competition however because it is such a small player in the scheme of things I think it will be pretty tough for it to compete with the big boys The only attraction is that it has spread it's wings and established bases in many key spots as well as having potential technology which may be useful for other companies. I only see it surviving if it is taken over by another entity .Even if a vaccine is available at the end of the year confidence in travelling has been diminished and in order for hotels and other accommodation to survive they need to cut costs which will impact commissions. The stock will most likely increase in value as news of increased travel is brought to our attention as well as stock rotation into beaten up sectors however as of next year reality will hit.Stock prices are based on future earnings which is ominous for next year. What makes a good company is it's management and I have great confidence in the current team .I'm sure they will pull a few rabbits out of the hat and hopefully surprise us all