Originally Posted by
Air Sh......
Might be a little early as there are no indications the SMB wants to sell - and if he doesnt I dont think there is anything LH can do.
Cant help thinking that SMB has campaigned for LHR-US for nearly 20 years and so why sell before that happens?
If BD do go to the US in 2009 - it coincides with the second SMB put option then so that might be the time
While both the put options are mentioned in Raffles post from November 2005 (see
http://flyertalk.com/forum/showpost....64&postcount=1), he also mentions a call option in a post from June (
http://flyertalk.com/forum/showpost....0&postcount=17). So, if LH really has this call option, the story might make more sense.
On the other hand, the value of BD's opportunities out of LHR might be higher before they lost a lot of money on new US routes
