Here are Thomas’s comments on Pallas Air’s recent news.
In our view, the announcements are clearly negative for Pallas Air, as the company is already in a liquidity crisis due to an overdue credit account and weak profitability. Pallas Air’s investment story currently relies entirely on equity-based financing sources or business transactions to improve the company’s liquidity situation. Due to the company’s very high-risk profile and value drivers being in the hands of external parties, we recommend extreme caution to investors with the stock.