Virgin Express (VIRGY) Richard Branson's European Airline Message Board

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Non-Tech : Virgin Express (VIRGY) Richard Branson's European Airline

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To: AC Flyer who wrote (29)	8/12/1999 10:45:00 AM
From: AC Flyer	Read Replies (1) of 62

Well, there's bad news and good news... The bad news is that 2Q earnings at $.26 per ADS were less than half my expectations. (There goes my career as an analyst!) The good news is that there are mitigating circumstances - i.e. the air traffic disruption resulting from the Kosovo campaign (I experienced this personally). However, Kosovo can not explain much of the earnings shortfall. The company's growth continues. Operating statistics are still good and improving - e.g. 79.5% load factor for the quarter (84.1% in July). The announcement of a new hub (Berlin) is good news - Belgium and the Belgian press have not been kind to Virgin lately - and I read into this a disengagement from total reliance on the Brussels hub. Recent price action has been disappointing - VIRGY trading below my average cost of about $7.50. I am now looking for FY99 earnings of about $.60 and FY 2001 earnings of about $1.20. Nevertheless, I continue to put my money where my mouth is - added 7,700 shares to my VIRGY position yesterday and today - though it will now take until mid-2000 before VIRGY approaches $20, imo.

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