I think China is where the growth is. I was hoping for China...

I think China is where the growth is. I was hoping for China Southern to take a stake. HNA and Nanshan are bit players desperate to get international connections, which they are not able to get in China. If the punters don't take up most of the coming CR, they will be diluted to being irrelevant. The free float will be smaller than now.

Qantas is also down heaps so sentiment is against airlines. Oil prices on the way up as well. HNA bought in at 30c, Nanshan 33c and these companies are willing to pay a premium for access to international routes. I don't know what's going to push up the SP in the near term.

In order to take advantage of the China market, Virgin will need to lease new aircraft to fly to China. Simply redirecting domestic A330s is not enough. China Southern would be have been perfect but I guess SIA would have objected.