T- I can Google FCF as well.
Your straw man argument suggesting that all is good at VA because they have free cash is a distraction.
AN tried this argument too, as they say, money talks, BS walks.
To suggest their situation is anything short of parlous is at best wishful thinking. This is a business that has chewed nearly $2 Billion dollars of investors money without producing a return. It has brutally punished those poor shareholders who bought into the IPO.
This, in a market where their competitor just posted nearly $1 billion in profit from their domestic business alone! This off the back of consistent year on year profits. On a market share basis, VA’s share of the profits pie should have been at least a $300m PROFIT. Where is it? Clearly the issue is not the market.
To paraphrase Rod Eddington - it might be a great airline, but its a poor business. Problem is, unlike AN, this is not even a great airline.
But hey, you might be right, all of this will rapidly change, the new CEO will discover what clearly eluded previous management, the board and long suffering shareholders and voila....... profit.