ppt课件-valuationratiosintheairlineindustry.pptVIP

Valuation Ratios in the Airline Industry Hari Stirbet Tammy Cheung Shelly Khindri Parmjit Marway Agenda Industry Overview Financial Theory American Airlines Skywest Delta Southwest Class Exercise Summary Industry - Overview 1978: deregulation of US Airline Industry Mid-2001 industry dominated by long-haul small carriers Many non-stop regional commuter carriers Industry – Financial State First cyclical downturn in 2001 Air travel demand declined prices softened ROE had declined to 12% v.s. 25% P/B ratio declined to 2% v.s. 2.8% P/E ratio was negative What does this all mean? To maintain