Lets also read the bits were EI state they made a 40M profit in 2012,
(-taking into account costs of 10M in relation to the FR bid,
-the fact that they are spending money to move MX to DUB which will reap benefits next year and thereafter,
-the exceptional revenue created from assets disposal last year)
They are also very upfront with their plans to counteract this ~50% in net profit/operational profit by getting into the ACMI business to try to move away from their over reliance on a single market which is currently going through the worst recession in its history. And in their investor briefing they say they will continue to reduce costs and look for operational efficiencies.
EI also state that 60% of their L/H traffic in 2012 was sourced outside their home market.
You correctly point out some of the facts Racedo. We could all selectively quote a small number of figures to support our argument....haven't I already done that in this post?
I dunno but as an investor I would be thinking......these guys are managing to do well in a really bad economic situation. They are continuing to work on improving their situation by growing organically and looking for low risk ventures with which to grow their revenue while protecting their cash reserves with prudent fiscal behaviour.
It may not be sexy but it works.
Last edited by DollarBill; 9th Feb 2013 at 22:13.