I agree with @Obiero ... KQ will be a star!
Forget that the NAV is only NEGATIVE KES 33bn. Not relevant. KQ isn't bankrupt just underwater.
Forget that KQ has likely sold 2 planes at less than BV & might take another write-down. Not relevant. Book losses.
Forget that KQ owes Kenyan banks $250,000,000. Small potatoes. KQ can just sell one 787 and repay the loans.
Forget that KQ owes KES 157bn to creditors. Small potatoes. Who wouldn't buy another Eurobond to support KQ?
Forget that KQ's staff always threatening to go on strike or on a slow down. They can be fired.
Forget that KQ has some 'untouchable' staff/pilots. They can be assigned lighter duties at the same salary.
Forget that KQ needs 1-2 years to turn the corner. The corner is not a coroner.
Forget that KQ has 'expensive' fuel hedges through Sep 2016. They just seem expensive because oil is at $33.
Buy KQ shares. Fly KQ.
*The above information is for entertainment purposes only. Don't be stupid.*
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett