PPRuNe Forums - View Single Post - Jet 2 spotters
Thread: Jet 2 spotters
View Single Post
Old 9th Feb 2010, 10:36
  #23 (permalink)  
DADDY-OH!
 
Join Date: Oct 2003
Location: Behind you all the way!
Posts: 359
Likes: 0
Received 0 Likes on 0 Posts
I would say they are undervalued if the share price of 48.5p is based upon an estimated value of £68 million.

In Jet2.com alone, they have a sizeable fleet of aircraft valued at IMHO:

14 x B737-300 148 seat Pax only- £2 million each = £28 million
7 x B737-300 QC Pax/Freight Convertibles- £3 million each= £21 million
8 x B757-200 235 seat Pax aircraft- £5 million each = £40 million

Therefore, the aircraft alone are worth at least £89 million, add to that their holding of spares, the simulators, the Jet2.com brand, property, slot allocations, the Fowler Coolchain company, network & assets... £68 million seems very, very cheap.
DADDY-OH! is offline