busdriver007
Absolutely agree.
The treatment of lease exposure and the discretionary subjective inclusions has been an issue for an extended period providing substantial cover to actual gearing.
Have pondered for a considerable period whether lease transparency would finish the little fella.If you consider the composition of the QF board and many other airlines, the flying business is simply a shopfront for the back end of re-hypothecation of aircraft ownership. Many boards have little aviation experience, but substantial lease exposure, think Ward and Allco, Clifford and Barclays, Meaney and TPG...Other than that, Tshirt Todd and Freehills IR fleas that is it..
Remember the JQ Asia lease shell game?
One may find short interest in QAN and other airlines grows comes the new standard...
