These charts compare assets, but you talk about revenue, and I don’t think it follows.
The value of all future paying passengers is not an asset, it is not included in capitalization and it would be very difficult to present as a collateral. An existing reward program, on the other hand, has a much more tangible value.
These charts compare assets, but you talk about revenue, and I don’t think it follows.
The value of all future paying passengers is not an asset, it is not included in capitalization and it would be very difficult to present as a collateral. An existing reward program, on the other hand, has a much more tangible value.