Equity raise process, page-13

Scenario analysis ?
Even if one does a Monte Carlo simulation there is going to be too high a variation in possible outcomes to draw a value ie you have to make assumptions of when the world comes out of lockdowns , not just singular countries coming out of lockdown as this is an airline business that travels globally so what parameters are used ?

So it becomes a stab in the dark , with each punter drawing their own conclusion , to me I doubt there will be quarantine free international travel for at least 6 months (with the exception of possibly across the Tasman ) and then a slow resumption ,
Even with say $2B in liquid assets that is along time between drinks to keep paying fixed costs, and with COGs of close to $1.7B in the last 6 Months to Dec , it will be interesting to see if they can drop costs as much as they expect in the presentation .

One silver lining to FLT is there will be far more travellers now prepared to value FLT personal service in future, due to the way it has gone beyond its call of duty in repatriating travellers compared with online booking companies
Another silver lining is these guys are going to have to make quarterly 4cs available given they will be burning cash going forward so will be interesting to see the true receipts and costs coming in going forward , and I may take a position then if they do what they proclaim to do .