Absolutely Seriously
Mr Stoddart will need to make the biggest decision of his life. Whether to support Ozjet with that money or to keep it to support his EAL group. If I were in his boots, I would look at focussing on the need to maintain liquidity because his assets would be revalued at much less in a bearish market.
We do not have sufficient informatiion about the tax implications of the transaction in the sale of the Minardi team but assuming there were none, I would at least start to hedge my fuel by purchasing some call options or warrants in the commodities such as Crude and Kerosene up to about USD1.75Mil (max 5%), maintain a cash reserve of at least USD20Mil (max 60%), and buy some commercial real-estate, that can be used as collateral, with the rest.
However, the pressure will bear upon Ozjet in the coming months as the unexpected delays present Ozjet with an unsustainable cashflow crisis.
Ozjet would have been much better off to have further advanced its AOC application before hiring all those people.