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Price $65 Debt $545M Equity $9,087M Cash $3,630M EBITDA $2,770M Shares Outstanding 487M The industry average market to - book ratio for the airline industry

Price $65

Debt $545M

Equity $9,087M

Cash $3,630M

EBITDA $2,770M

Shares Outstanding 487M

The industry average market to - book ratio for the airline industry is 3. Estimate the fair value of OceanicAirlines' shares based on the industry average multiple and the data supplied in thetable, above.

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