I reckon it is great buying at this price. Any airline contemplating NZ stake will be paying a lot more than current price. All and sundry knows shares in VAH are too thinly traded to reflect intrinsic value. Potential buyers will be looking at strategic value, brand value and long term and disregard share price. The risk is a CR. But at these prices, I would happily take up a CR that will need to be priced at a discount to current price.
