The share price drop this morning does seem a little overdone, but from the markets point of view it is currently without a CEO, the last one was sacked in August ( long overdue by all accounts), it is busily reducing its fleet size, its locked in a redundancy argument with its cabin crews and now its not publishing its accounts. Its back office arrangements appear haphazard and some of its European offshoots just bleed money.
The price drop probably reflects the fears the markets have had for some time regarding this firm and this latest refinancing requirement is the proverbial straw.
Whilst no one is too big to fail, its an iconic brand going very cheap. Lets hope for the best, the airline crews are fantastic..Great people. Good luck
