All fair comments. I guess part of my disappointment is that...

All fair comments. I guess part of my disappointment is that DVI's directors don't have the confidence in BYOJet - even with Jetmax, which I assume is what Flight Centre is really after - to build the company for a few more years before selling out (and hopefully then get a better price).

I would have been happy if they told Flight Centre to go away and try again in a few years time. Or offered them just a 40% stake. But the directors are the ones best placed to make such judgments.