How do you become a millionaire?
Be a billionaire and buy an airline.
Never invest in an airline:
Massively capital intensive.
New plane models rolled out frequently, obsolete quickly, maintenance, fuel, storage, external costs
Lots of risks; volcanoes, terrorism, pandemics, etc. One mishap can destroy a brand.
(Very expensive to be grounded).
Lots of competition.
Airports are monopolies (squeeze every $ from airlines).
Travel is seasonal and a luxury people can do without (ie the first thing people cancel).
05-May-2020: Qantas Group Market Update
Weren't QAN a screaming buy below $2.50 in March!! By the time I'd convinced myself they were a buy, they were already back over $3 and heading north again. They closed at $2.14 back on March 19th. They are back over $3.60 today and still heading north. Fortunately, I didn't miss out entirely, as I was distracted at the time buying other bargains such as BPT at below $1 and NWH at around $1.10.