The 2007 annual report states that both the aviation and haulage fuel requirements are hedged or protected by contracts. A large chunk of the 06/07 profit disappeared into aircraft purchases...(have they bought any more in the last 12 months?) so in theory the turnover should be up in 07/08 and the you might expect the group profit to be about the same as last year following the february announcement about a poor j2 W08.
So why have the group shares dipped again? By my calculation the current value of the company is only £22.5 million on a share price of 16.5 pence, whic seems odd given the assets and new routes coming out (albeit slowly) for W08.
Something doesn't add up - is all of this driven by economic uncertainty etc etc or is there something else going on??? (and I'm not a jet2 doomsayer, I think they are the best thing to happen to BLK for many years).