I took the plunge today and bought a very small parcel at $0.83....

I took the plunge today and bought a very small parcel at $0.83. It’s the first airline I’ve (part) owned, in spite of all the usual warnings! My rationale is that like all airlines it’s at a nadir, however AirNZ is effectively a government sponsored monopoly, and with the NZ Govt owning 51% it’s not going anywhere. Presumably AIZ will do a heavily discounted cap raise at some point in the near future - potentially to pay off the Govt loan, at which point I’ll look to increase my stake. It’s been trading within a very narrow range for the past month so looks to have found a floor but if it goes materially lower I’ll probs by some more.