with labour in charge AIR NZ doesn't stand a chance. Winston Peters the Great is a through back to the 1930's
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with labour in charge AIR NZ doesn't stand a chance. Winston Peters the Great is a through back to the 1930's
"He said it was "nonsense" to suggest the Government's $900m loan to Air New Zealand could not be tagged to support facilities like the Nelson maintenance facility."
https://www.stuff.co.nz/business/ind...ng-nelson-jobs
Yes, well why not? The $900m covers existing operational costs, so why not just expand it out to include additional costs like requiring them to return to running non-economic sectors, or continuing to service Q300's at NSN even though the operational lifespans of those planes are reaching the end.
I'm sure Winston will be all on board with this given his previous comments.
Our man Cam worried about huge job losses and falling house prices
@CamWallace_NZ
Yes, and plenty of discretionary consumer spending, including unfortunately travel, is generated via the wealth effect driven by the residential housing market.
Warren Buffet on their recent sale of BH's entire stakes in USA airlines. See it here.
Stating the obvious IMHO, but perhaps news to many USA investors who can't see anything beyond the USA borders.
(Disc - don't hold AIR.)
There are some quite pertinent quotes in that article, like this one:
“We made that decision in terms of the airline business. We took money out of the business basically even at a substantial loss,” Buffett said. “We will not fund a company that — where we think that it is going to chew up money in the future.”
Interestingly, Delta is only about 50% off this year's high...not that dissimilar to AIR. Haven't looked at that the others.
If Buffett has made an industry wide call, the Sharesies warriors will be out dumping tomorrow. Air NZ is kill confirmed.
I told him when he was thinking of buying them:
"Warren", I said, "You will never make your money back".
But did he listen?
i seem to recall ironically quoting when I heard Buffet getting into airlines 'coz this time its different'