Time to watch the wave people, peaks and troughs here they come.
Listings as of some time ago..
Toll 62%
Virgin Group 25%
BG 3%(ish)
Market 10%
At listing in 2003 VBA was worth an estimated $2.3 Billion, today it is likely about 1.1 (or less).
Tricky Dicky sold down to Patrick for a fortune, not bad for $10 million in seed money.
Now BG who has 3%(ish) has gone from a reported $85M down to $30M(ish) so whatever happens I will not be shedding a tear because it was only ever worth the paper the documents were signed on. Don’t forget that.
BG will stay, Toll will hold on, end of the day they are very well run and are proactive if anything, see the “cutting flights” thread.
As to Tricky the windbag coming back in, doubtful. Little has piddled on his shoes before and there is no love lost between the two and although VBA is “non-core”, belly cargo in V-Aus is definitely core. Meaning Tricky cant get his hands on more than 49% of an Australian Company operating internationally (Stands to be corrected on this bit), which would then kill V Aus, similar vein to why SQ cant/wont pitch the pacific.
Watch this space, money and debt are harder to come by right now at the right price so whomever is contemplating needs cash/equity and deep pockets.
The key will be the mums and dads who bought into windbags’ hype and paid double for what their shares are worth now. So whoever panics and and dumps there will be some interesting buyers (sharks) that will bounce in the future.
From scuttle but around our office some one was crunching the numbers to see if they could raise the $1bn plus just to get their hands on the outstanding
VB 737 purchase rights that they have at a very very good price and turnover the airframes for the cash.
Watch this space there is word out