Sounds like the theme to a party I had a few years ago but that...

Sounds like the theme to a party I had a few years ago but that is where we are headed.

Thanks for posting the analyst upgrades - truly a lag indicator those.

I think the Tiger IPO debuted at 13x FY11 estimates and was heavily oversubscribed. I read the AFR that FY11 estimates for VBA are in the $230M range - at 13x that's a market value of $3 Bn (give or take) or $1.35 a share.

Now would you put your hard earned into Tiger, who has never made a profit, or VBA that is currently profitable and has been all but one year as a publicly listed company based on FY11 forecast earnings?

13x estimates for an airline is stupid money but that's what is out there.

GLTA