In the context of the current share price, the results are very pleasing. Key metrics are all positive:
- positive operating cash flow (most important) - migration of corporate business from Qantas - financing for 777's - loss results from one-off/non-recurring items - hedging loss is just a book entry (no cashflow impact)
On top of that, they have: - great brand - growing frequent flyer program - domestic duopoly - Virgin Atlantic anchor shareholder - cheap takeover target
VBA Price at posting:
19.9¢ Sentiment: Buy Disclosure: Held
