So you are comparing the valuation at the time of the sale to the value of the shares now?
Off course I am. What other way to validate he artificially drove down the value of company to make a killing another day.
Assets of Deccan? Please enlighten what was the asset base of Deccan? Don't think there was much on the books.
"As a
result of those losses, our net worth as at September 30, 2005 was negative at Rs. 796.70 million which does not include an amount of Rs. 1,435.30 million (in the form of fullyJ convertible debentures and debenture application money)."
The above is from their IPO application. Their assets (aircraft) were worth Rs 2223 million and their loans against these were Rs 2175 million. No airport hangers, special landing rights etc. The only thing of use was that he was reaching the 5 year mark to fly international. Something which KF desperately wanted. IF VJ was such a buddy of PP I guess it would have been easier for him to change the rule then to buy this white elephant of an airline.
You are correct there this is not a stock market forum but an aviation forum. Priority lies in seeing how best AI can be de nationalized and then sold off to the best and most competent bidder with protection from industrial action if a layoff plan is announced.
Keeping conspiracy theories apart the writing is on the wall. Indigo and Spice have a decent domestic model. This model is yet to be tested in the International routes. Their crew seem to be satisfied and busy.
Jet seems to be making money cashing in on the international routes they have with some revenue from local. When the crew were not busy they got into trouble not anymore
AI is in decline and at the bottom of the barrel, government involvement apart it will need a dramatic change including mass layoffs.
KF is a flying elephant that is weighed up by all the hot air in VM belly and supported by all the booze he is selling.