Forum Archive Index - August 2001

["Gary Wilson - Brisbane" <fastmail@bigpond.net.au>]

I think a "fairly famous/successful" :-) investor said even very clever people will struggle to make progress or succeed with what is essentially a "bad business".  Airlines are certainly in this category - highly competitive, huge capital requirements and uncertain regulatory regime etc etc.  Indeed - I read somewhere that, taken as a global whole this industry has never made money!!  So surprised to see some Air New Zealand shareholder disclosures on the Forum! :-)  Perhaps it was that (previously) attractive yield that beguiled some.