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Fairfax sells Chorus Aviation shares


wknecht
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"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.

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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

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