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It managed to hold profits steady in the year to the end of March, but the current half-year profit will fall by about a fifth.
ECONOMIST: Asian airlines
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Obama made a legitimate claim about the difficulty of calling the shots in the current global environment, where small and mid-sized countries hold more sway than before.
CNN: Ed Henry: Obama in Europe -- Barack and a brandy
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While we were somewhat conflicted, given that the shares now trade for 12 times book value, in the end we decided to hold on a while longer as the current price-to-sales ratio of less than two is quite low for this sector, and we have previously sold Avanex on two separate occasions at much higher prices.
FORBES: Magazine Article