CT
The "Home Run" in his mind is Jetstar Japan, alleging the current stake is worth double what QF have tipped in
This is how the "home run" looks on the scoreboard:
Started flying on 3 July 2012.
FY ended June 2013: Revenue Y12.8bn Operating Income -Y8.8bn
FY ended June 2014: Revenue Y29.1bn Operating Income -Y11.1bn
FY ending June 2015: Revenue ESt Y 32-33bn Operating Income Est -Y8-9bn
Initial capitalisation Y12bn
Ist recap Nov 2013 Y 11bn
2nd recap Nov 2014 Y11bn
Current Cash Situation approx Y5bn
Business has transitioned from startup and now running at a stable but negative earnings rate of approx 25% of revenue based on a 20XA320 fleet.
There will be a requirement for an additional capital injection before Xmas but JAL is disinclined to participate.
QF is locked into a 33.3% voting shareholding even though it's economic shareholding is now 47.1%.
Elaine claims the stake is worth twice what they have injected = A$ 300m
Now that is interesting math.