first class or in the cargo hold........

I was a VBA shareholder in 2010 (purchased in August and sold late December).

Ever since selling, i have been looking at VBA, considering a re-entry point. I love the VBA story, all the way from Branson to Borghetti.

When I look back to the challanges the airline faced in December 2010 compared to were the company is now, I don't understand the current SP.

Since I sold in December 2010, VBA have:

* Signed a deal with Air NZ.
* Signed a deal with Delta.
* Signed a deal with Ethiad.
* Ageed on a deal with Singapore Airlines.
* Opened new lounges.
* Signed a $6 million dollar deal with the AFL.
* Increase business class capacity.
* Improved their velocity program.
* Re-branded the airline(s) (saving millions in advertising costs).
* Maintained a cost base considerably lower than QAN.
* Had Air New Zealand purchase a 14.9% stake in VBA at 44c per share.
* Proven that leading global airlines (Singapore & Ethiad) are happy to be associated with VBA.

So, I have not yet re-entered VBA because many of the changes that I though would send the SP higher have taken place but the SP has fallen and is still under 30c.

What does VBA need to do so that the SP takes flight?

What am I missing......