wknecht Posted February 13, 2013 Share Posted February 13, 2013 http://business.financialpost.com/2013/02/12/fairfax-sells-off-all-chorus-aviation-shares/ I hadn't even heard of this small investment, but looks like the proceeds from the sale will be around $4.30 a share. Not sure what the cost was. EDIT: I meant $4.30 per Fairfax share. Link to comment Share on other sites More sharing options...
onyx1 Posted February 13, 2013 Share Posted February 13, 2013 Chorus is a Canadian regional operator. Similar business to SkyWest and the Republic Airways here in the US. Link to comment Share on other sites More sharing options...
StubbleJumper Posted February 13, 2013 Share Posted February 13, 2013 Prem allowed FFH to hold a $90m investment in an airline? He has always struck me as a fellow with a strong understanding of the history of financial markets and on the economics of the various sub-industries, so the original purchase of airline shares seems counter-intuitive. SJ Link to comment Share on other sites More sharing options...
JEast Posted February 13, 2013 Share Posted February 13, 2013 I was a very cheap REIT at the time of purchase (i.e. the old Jazz Income Fund). Cheers JEast Link to comment Share on other sites More sharing options...
Daphne Posted February 13, 2013 Share Posted February 13, 2013 At current price dividend is about 14% Link to comment Share on other sites More sharing options...
PED Posted February 13, 2013 Share Posted February 13, 2013 "so the original purchase of airline shares seems counter-intuitive" : Indeed!!... single reason why "investment" is the business of"never say never". When run by excellent managers (owner-founder), it can be a decent (but not a fantastic) business, and resulted as great investment. Dart group, (UK based, leisure airline's Jets2com) is "THE" example of a "counter-intuitive" opportunity achieving profitability since 1985 (?) free of debt(!), owning their (all second hands) planes (except 2 or 3 leased ?), still growing wisely, trading around 6-7X, flying stealth for years, including from the "investment radars". ;) PED PS: not sure to understand how well FFH did with Chorus. Link to comment Share on other sites More sharing options...
MrB Posted February 13, 2013 Share Posted February 13, 2013 Give Ryanair some respect. It is an airline and a fantastic business! There, I said it. No I'm waiting to be kicked off the board ;D Link to comment Share on other sites More sharing options...
benhacker Posted February 13, 2013 Share Posted February 13, 2013 Looks like the 18m shares were directly from Jazz purchases which they did over a few years if I recall... looks like (from historical quotes) they were buying I think around $3.00 to a little over $4 maybe. Dividend was 0.05 / month roughly. Probably a decent but not stellar return given this was a purchase made when some things were really cheap. Ben Link to comment Share on other sites More sharing options...
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