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23-05-2017, 09:09 AM
#11071
Originally Posted by BlackPeter
Pitty that:
http://www.stuff.co.nz/business/9286...ising-pressure
I remember them as one of the top airlines (though didn't use them admittedly for some time ... their routes didn't suit my needs).
But just wondering - if Cathay feels the pressure - is there anything in store for the industry as a whole?
Had 2 recent long haul flights with them
Liked this bit in report - frontline workers, including pilots and cabin crew, would not be affected, but "will also be asked to deliver greater efficiencies and productivity.''
Jeez - they were awfully efficient on my flights. Had the punters fed and the lights turned within 90 minutes of takeoff and then only turned the lights on and fed the punters about 2 hours out. Hopefully not too many punters were a nuisance in the 8 odd hours in between.
Last edited by winner69; 23-05-2017 at 09:13 AM.
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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23-05-2017, 09:17 AM
#11072
Originally Posted by BlackPeter
Pitty that:
http://www.stuff.co.nz/business/9286...ising-pressure
I remember them as one of the top airlines (though didn't use them admittedly for some time ... their routes didn't suit my needs).
But just wondering - if Cathay feels the pressure - is there anything in store for the industry as a whole?
Cathay is making the cuts after it reported a US$74 million loss in 2016,
At a guess without having the time to delve into their situation its most interesting to note they made a loss in 2016, (a year of record ever profits in the aviation industry with record low oil prices).
The only other airline I know of that made a loss in 2016 was Virgin and they have major systemic issues including a seriously over leveraged balance sheet.
To make a loss in 2016 and to now be undertaking major restructuring just like Virgin is I would suggest their problems are not unlike Virgin's and particular to those two companies not a sign of systemic issues right across the industry...or to put this in more colloquial terms, only badly run dogs made losses in 2016 so it shouldn't be a surprise they're now applying lots of flea powder Others may attribute this to the rise of discount carriers in Asia...whatever theory floats your boat.
Last edited by Beagle; 23-05-2017 at 09:23 AM.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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23-05-2017, 09:30 AM
#11073
Originally Posted by Roger
At a guess without having the time to delve into their situation its most interesting to note they made a loss in 2016, (a year of record ever profits in the aviation industry with record low oil prices).
The only other airline I know of that made a loss in 2016 was Virgin and they have major systemic issues including a seriously over leveraged balance sheet.
To make a loss in 2016 and to now be undertaking major restructuring just like Virgin is I would suggest their problems are not unlike Virgin's and particular to those two companies not a sign of systemic issues right across the industry...or to put this in more colloquial terms, only badly run dogs made losses in 2016 so it shouldn't be a surprise they're now applying lots of flea powder Others may attribute this to the rise of discount carriers in Asia...whatever theory floats your boat.
So AIR under Chris is sort of 'best in breed' and the future looks very bright
No wonder the share price is heading to over 3 bucks and new highs (at least for this century)
Instos love well oiled machines and industry leading performers
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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23-05-2017, 09:36 AM
#11074
Originally Posted by winner69
So AIR under Chris is sort of 'best in breed' and the future looks very bright
No wonder the share price is heading to over 3 bucks and new highs (at least for this century)
Instos love well oiled machines and industry leading performers
Yet NZ instos aren't that interested in buying the stock, I know this from personal experience when I tried to sell my large holding a few months ago, they weren't even interested at $2.32, so would be a lot less interested now.
Last edited by couta1; 23-05-2017 at 09:38 AM.
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23-05-2017, 10:26 AM
#11075
Originally Posted by couta1
Yet NZ instos aren't that interested in buying the stock, I know this from personal experience when I tried to sell my large holding a few months ago, they weren't even interested at $2.32, so would be a lot less interested now.
NZ instos pretty useless - global ones more switched on
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23-05-2017, 01:03 PM
#11076
Originally Posted by couta1
Yet NZ instos aren't that interested in buying the stock, I know this from personal experience when I tried to sell my large holding a few months ago, they weren't even interested at $2.32, so would be a lot less interested now.
Perhaps they had their fill already?
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23-05-2017, 01:08 PM
#11077
Originally Posted by macduffy
Perhaps they had their fill already?
No, they weren't interested, said all the buying was coming from overseas not NZ.
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24-05-2017, 08:57 AM
#11078
Back from the states flew on a refurbished 777=300 there service was 1st rate not to mention the fact they went beyond and gave empty premium seat rows to parents with young toddlers.
one step ahead of the herd
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24-05-2017, 02:32 PM
#11079
Really solid set of numbers
https://www.nzx.com/files/attachments/258773.pdf
Things getting better as financial year rolls on
Even if F17 profit is as they say around $500m based on these improving stats D18 is looking pretty good - possibly better than F17
And 3 bucks not far away - need another debate about resistance becoming support eh
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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24-05-2017, 02:37 PM
#11080
Very strong month, very pleasing. Group wide yields over the last three months year to date have come in from down 7.3% YTD, down 6.6% YTD to down 5.9% YTD in April. Yields in April must have been very strong indeed (as were load factors for that matter), to move the year to date needle that much. $500m before tax for the year looking extremely conservative now and outlook for FY18 looking very sound too.
I won't comment on what I think they are worth, (especially about the $3 hurdle), other than to say I just topped up even more at $2.85 after topping up last week at $2.76.
Fuel hedging position looks very sound to me. Collared-up 75% of 1H FY18 consumption based on Brent price of between $43 and $54 and 45% of third quarter FY18 consumption at similar levels. Good prudent risk management in my opinion.
Last edited by Beagle; 24-05-2017 at 02:54 PM.
Reason: Add comment on fuel hedging position
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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