I imagine that VAH would enjoy the lack of public scrutiny that...

I imagine that VAH would enjoy the lack of public scrutiny that they would have if they were no long a listed entity. Things like profitability could be ignored in favor of sexier metrics like passenger miles growth, etc.

Unfortunately, taking the stock off the exchange will make it that much less liquid for the big holders. They have lost money which is already hard enough to recover, much less finding someone to buy a 20% stake in total (and likely get the approval of the other holders, etc).

The quickest way for the board and senior management to get this company into a different position is to make it profitable. Listing shenanigans. Ownership shuffles. All meaningless.

I continue to watch this company and wait for senior management turnover and a strategy to make money off 50% of a market that the other player is killing. Until then all these gimmicks are exactly that. Gimmicks.