I'll generally
award a 1.0 Price /
Book multiple for companies earning anywhere between an 8 - 12 % Return
on Equity — entirely
dependent on the quality of the company & its business model, plus the degree of risk and / or leverage involved.
They sure used an awful lot of language in an attempt to put a positive spin
on these changes, but the bottom line is that we are now
dependent on United's
award booking engine, which doesn't pull in all partner flights, excludes many routings, and has a difficult time with itineraries of three or more legs.