Time to vote on the new directors and direction for TAP. The...

Time to vote on the new directors and direction for TAP. The stock looks cheap, but which strategy will yield the best result for ALL shareholders?

I am leaning towards a change in direction as I don't see the benefit of the incumbent strategy.

Pros
No need for a London based Executive and all the costs and inefficiency associated with this.
Cut in overheads and focus on cash flow only.
No plan for immediate dilution, as acquisitions will be off the cards.
Business plan will align with major shareholders.
Potential dividends will utilize franking credits.

Cons
Not sure I trust Thai connection, given past history.
Issues around appointment of added Australian Director if Andrea Hall resigns.
Need to ensure strong independent directors. Can this be done?

Oil price rally will lift share prices after the removal of uncertainty. Share price has failed to share in recent rally as uncertainty has overtaken logic in relation to strong cash flows.

Happy to share any other thoughts.

AL