DISCOVERY AIR INC 8.375 PCT DEBS T.DA.DB.A

RE: Clairvest Debenture

[Mongoose11]

The current market cap is $36 million. It really is peanuts in the grand scheme of things. I'll never understand why Clairvest didn't simply purchase DA and take it private instead of loaning them $70 million and deferring $48 million of interest payments. It would be interesting to know what their true strategy is/was.

What DA needs at this point is a total house cleaning. I feel that there is a winner underneath all the fat that has been packed on over the lst couple of years. I'm surprised that none of the underutilized assets can't be redeployed in the U.S. market at least to some minor degree.