I own Pan Am in the newest small world......S3-A
Pan Am is #2 ranked but is leading the map in nearly every category......has been for most of this early map, where only about 5 months in.
What I don't understand is why Pan Am isn't #1 in valuation.
Pan Am fly's more miles, has nearly 5 times the passenger load, 60% more aircraft, more wide body aircraft, connects more than twice the cities, has a higher PR rating and has several times as many flights.
Both airlines have been buying aircraft and I think we have similar amounts of aircraft we own.
But Pan Am owns 8 Terminals and Hubs investing several hundred million doing so.......several times what the #1 airline has spent on buying aircraft.
The #1 airline owns no Terminals or Hubs.
So, the question is......what determines the value of an airline ?