Stall Warning in H2?20 Jan 2021 11:23
I've held AIR for about ten years, following first my father who took inspiration from the FT's John Lee.
I favour it for the capital-light investment angle into the airline industry but there has been more than a little, ahem, turbulence in recent years. There have been fairly regular attempts at globalisation which seem to have fallen flat followed by sharp retrenchment - I'm a bit concerned that the lumpy profits of H1 will trigger some more bullish spending on expansion. What's different this time?
Reflecting on the H1 announcement, AIR referenced PBT of £10.5m which makes today's FY announcement of £11.5m feel lacklustre, suggesting a meagre £1m in H2. Has this flopped a bit in spite of what must have been some superb Brexit logistics opportunities before Christmas?
Interested in other long-term holders' views.