JAL filed for bankruptcy, and it was told that now the whole value of JAL as a business is less than the price of one of its airplane!
While indeed it surprises me that JAL could goes havoc like this. It is still unbelieveable to me that the whole value of JAL is not more than the price of 1 new boeing airplane.
In modern time, perception of the market -- I guess -- many times really no longer reflecting true reality. It very often getting totally distorted. And many times, later on, proven to be silly.
Apple was considered a 'dead company' a 15 years ago. The market perceive it as a RIP. Not really. In the hand of Steve Jobs, it make its greatest come back. Today valuation of Apple is even bigger than IBM.
JAL was the largest airline in Asia. It has so many airplanes, asset, building in so many shape and form. And of course debts -- short term, long term, expenses, expenditure and operating capital. Yet the market suddenly perceive its total valuation less than 1 of its boeing airplane?
I inherently don't think so. Or -- at least -- I tend to NOT believe so!
I could be wrong though. :-P
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