new name, page-6

I've been burnt in the past by VBA but bought back in today.

Hard to believe there much more downside, it must be around asset backing now.

I like a lot of the new ideas borghetti is bringing to the table. There is good money to be made in the Australian domestic market especially if they can start to the tap into the business market which is where then good margins are.

Plenty of potential in the rewards scheme too which is starting to build.

Internationally they are getting involved heavily in allianeces which should help make international side at least break even over time and open up new destinations.

Hard to make profit In international market, VBA's profit going forward should come from domestic routes and loyalty scheme.

In good times VBA can make $200 million per year in profits, if you've got medium, long term horizon I think entry around 28 to 29 cents is good value