The share price ultimately indicates 1) confidence in the business 2) the value of the business.
Clearly, with a share price in free-fall, confidence is also falling by independent investors, including fund managers who invest in transport. With the current economic climate, people will be risk adverse to high risk industries. I'd be nervous if it were my money.
The market capitalization of the business is interesting. If I wanted to buy all the shares in the business, and therefore own it, I need to pay 29.27m GBP at todays share price - quite a good price for 30 aeroplanes plus the remaining assets. If I were an asset grabber, I'd be very interested.
But, the CEO and MD own the majority of the shares. This could mean that the management buy even a bigger stake in the business for a very good price. Each of these men have seen their wealth fall dramatically over the past 24 months.
Borrowing money - the amount and the cost - might be affected by the value of the business.
Their cash position is much worse than it was several months ago, which I think is the most worrying factor of all.