@pierce - Why? I have no idea... lakini I have an order in to top up at 50/-... My earlier buy-in price was 43/- lakini about 1 week ago, I sat down & looked through the numbers...
The NAV is 43/- as of 30 Sep 2010. There will be gains in fuel hedges thus upping the NAV. The 2H (4Q) passenger & cargo numbers are better than last year.
Future: There are losses for 6 days due to the volcanic ash BUT some of these were recovered i.e. passengers flew just late/r. Same with some (not all) cargo.
KQ remains dominant in South & Central Africa. SAA is formidable BUT it is concentrating on WC2010 not expansion at the moment. Also SAA is government controlled thus zuma's buddies & family will be running the show. Bad for SAA, good for KQ.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett