What Ross Love has provided in this announcement is the most professional, engineering-based, status report we have yet seen. Two conclusions stand out:
1. While the work still required to achieve that elusive FAA certification is substantial, the tasks to be performed, and the specific track to be followed, have been defined to a level we have never approached previously. We, as shareholders, now have a set of milestones against which we will be far better-placed to monitor progress than ever before.
2. Yes, there is still a significant way to go. But this only reinforces the fact that any potential rival must cross not just one, but several massive moats. The effort, time and cost required to do this is likely to deter most potential competitors from ever contemplating the challenge. There will probably be time to establish the technology as a routine engineering process, across the entire airline industry, and, we may expect, other areas as well.
Is this the time to sell our shares? Not unless you desperately need the money!
Cheers.
SMN Price at posting:
65.0¢ Sentiment: Buy Disclosure: Held
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