Free Republic

A second consecutive plunge in revenues and a multibillion-dollar loss are hardly a surprise but the last two years leave the balance sheet looking very stretched, so stretched the valuation is less attractive and the risks are higher now that they were in 2019. As such it is time to admit that a chunk of the money sunk into the shares at nearly £36 a pop is gone and move on. This may seem perverse at a time when travel restrictions are easing, the prospects for improved bookings for the key summer season are improving and this column continues to...