You might find that L3's profit margins are not as big as you think, and this might explain them continuing to fly when everybody else had taken the gypsy's warning. CTC was making a loss when it was sold and subsequent management do not, to an outsider, seem to have addressed this. The CEO of their flight training division has been moved sideways into a room with only one exit, they have enabled all of their competitors by laying off IR business that they couldn't handle and then there's the VAT question to answer about the 'training bonds', a question which I am told has a £60M answer. But who knows, one often hears rumours without substance. The board will know.... Might just be 'watch this space'.....
Last edited by Alex Whittingham; 30th Mar 2020 at 22:20.