Thanks for the writeup.

I think it;s undervalued mainly because of sentiment. Also PVL reminds me of BLA (Blue Sky Asset Management) so I think there will be a few who will tread with caution on this.

Will have to do my own digging to check those valuations for all those companies but at this price it looks interesting. But I already have a handful with my current portfolio at the moment and accommodating this would mean letting something else go.

@TEPCapital Skykraft is a long way behind Aireon in terms of implementation of space-based ADS-B. Aireon is backed by some of the largest and innovative ANSPs (NavCanada, NATS) and satellite communications provider Iridium. Space-based ADS-B is already in use across the Atlantic to reduce the separation standards required. According to Wikipedia, Aireon already has relationships with the following ANSPs/countries providers: Nav Canada, UK NATS, ENAV, IAA, AAI, Naviair, Isavia, CAAS of Singapore, ATNS of South Africa, DC-ANSP, ASECNA, Seychelles (SCAA), COCESNA Honduras and PNG.

Given the competition has all the know-how and is already using the technology, how is Skykraft going to be able to compete on a ROI basis? It takes a lot of money to get satellites into space and maintain those connections, since Iridium is a major satellite comms provider, they could be using the satellites for multiple different purposes to reduce costs... If Aireon can sign up the FAA, in my view it would be game over for Skykraft as all of the world's major Oceanic ATM providers (in traffic volume terms) would be covered by them.