Just the £3B in cash in the bank, what will that be come year end +0.5B no doubt. When will Cash in hand exceed the entire market cap of £3.7B? Post tax EPS will be 75p by then and clearly on target for that as £50M banked over Q1 due to a reduced loss. It will no doubt bomb the share price as usual :-) utter madness.
Company must:-
Buyback (half the cash on hand could be used)
Dual Listing in NYC (free money ala RYA)
Move the silly accounting period so that Easter is always included in Q2.
Should also consider
Acquisition of smaller competitors (we keep hearing about consolidation, EZJ should be looking at this with spare cash) thinking of struggling tour operators as well as smaller eastern EU airlines. Open up north Africa more for less silly fee happy (EU) destinations.
A bit confused why a company making £700M+ would only pay out a £10M dividend to its faithful shareholders and retain almost a quarter of the companies value?
I thought a special dividend would rip-off small investors as it's subject to tax (unearned income). Thereby the rights issue raised funds for the companies crisis from the shareholders and the special dividend to return the funds is taxed so a massive loss to those not held in a tax free wrapper.
That is why the 'fair' way to return the funds to all of the shareholders is a buy back.