I took a position a few months ago around the $2 mark.

Webjet has some terrific fundamentals. 9 years of consecutive EPS growth, didn't even take a backward step during the GFC. During that period, they've also outperformed the rest of the travel industry every single year. Terrific returns for investors.

In this crowded web travel industry, Webjet has continued to outperform in Australia and NZ. In my opinion, it's not the technology or even product that gives Webjet an edge - it's the brand. In Australia anyway, Webjet is known as THE flight search engine. I think much of the population will find it difficult to name another.

If Fairfax wants to take a stab, I'm happy for them. Though it would be alot more value to a company like Flight Centre.