Thanks for your detailed take on yesterday's trading update. A balanced summary. But I am interested as to why you think "we'll see a healthy PBT increase on last year given the significant bottom line improvements that will wind in this year." In Q1, revenue per seat fell 9.1% to £47.95 (Q1 2015/16: £52.73), whereas costs per seat only fell by 3.2% (from £53.24 to £51.52). These figures indicate that, in Q1 2015/16, the airline made a loss of… Read More
Sometimes brokers have a clue and sometimes they don't. PT of 105-120 says it all, looks like flawed research IMO. For sure, the attacks in France could dent passenger numbers, but not enough to justify a SP predicted to be 105 to be now 55p.
Liberum reduced their price target to 55p today. 2 weeks ago they had already reduced it to105p from 120p. Can anyone give a rational explanation to what happened in the last 2 weeks or from the trading statement that changed their mind? We've had more terrorism in France (Nice and Saint Etienne) and Flybe are highly exposed to the French market - would that be it? Can't see anything else in the trading statement that we haven't known since Brexit.
Personally i would like an exit from this… Read More
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