https://www.msn.com/en-nz/money/news...cid=spartandhp
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https://www.stuff.co.nz/business/wor...-fullyear-loss
7 years of losses in a row. WOW...and some of those years with fuel prices at very low level's. What a mutt !!
virgin is nasty, checking in from NZ2, two hours out from LAX, waiting on breakfast, plane half empty, first time I have seen this in the past four years, crew equally surprised so clearly not a trend, wifi before everyone wakes up is great!!
lower oil prices coming should be good for air
https://www.bloomberg.com/news/video...gin-says-video
Oil prices and their future direction aside, I think AIR is looking good in the current circumstances with Virgin crashing to its 7th loss in a row and announcing serious route retrenchment and Qantas admitting their subsidiary JetStar is losing money on regional routes and they are watching the situation closely. We've also seen some other carriers rationalise their capacity and routes to N.Z. An over used phrase but "well positioned" does spring to mind.
I agree. A small bugbear is their ongoing approach to brand and marketing. The old K.I.S.S. principle never lead anyway astray, did it?
My only long-term issue with AIR (and its an issue for the whole industry) is climate change. Air travel is extremely unattractive to an increasing part of our population. My family already avoids flying wherever possible. This isn't biting now, and may not for some time, but I believe that time is coming.
Welcome to the forum. From memory AIR recently announced only about 5% of people pay for the optional carbon offset as part of the price of their ticket.
Plant a couple of native trees and fly wherever you like I reckon :)
Their Carbon offset is incredibly cheap, they do not take other emissions into account, which may or maynot be the right thing to do. Interestingly I heard a presentation from a fund manager whose "ethical fund"screens for the best in sector. AirNZ was their pick of the best airline, surprisingly Singapore airlines was the worst from their selection criteria.
Yes Arthur, this is my understanding too - AirNZ offset looks very cheap to me, but we do always opt in to it. Flying from Christchurch to Auckland next month and it was something like $10 offset for the whole family. Doesn't seem right. We will offset elsewhere as well to keep our conscience clean. Its a pity AirNZ don't offer some other mechanism for customers to get involved in offsetting or carbon activism more proactively - it is the kind of thing that with their scale, market share and infrastructure they could readily put a foot forward and lead the industry both regionally and globally. Anyway, I'll get off my high (also carbon-emitting) horse!
And thanks Beagle for the welcome.
http://nzx-prod-s7fsd7f98s.s3-websit...567/305892.pdf
Half way through reading my hard copy of this which arrived today. Sad that Chris Luxon is leaving. You can't buy leadership of that quality for love or money and he will be sorely missed. I think my most enduring memory of the strength of his leadership was when he stood up to the other directors and CEO of Virgin and told them that the Virgin CEO Borgetthi, (forget how to spell his name) had to go. When they wouldn't back him he resigned as a director of Virgin as a matter of principle and then extricated AIR as a shareholder from this dog of a company and the rest including a 25 cent special divvy for AIR shareholders while the remaining shareholders in Virgin have gone on to endure 7 consecutive shocking years of losses, as they say is history. I think I have attended most of AIR's annual meetings over the years and really enjoyed chatting to Chris Luxon afterwards. A real gentleman that seems to have the unique knack of being able to easily relate to people from all walks of life.
Virgin in recent times from this https://www.nzherald.co.nz/business/...ectid=12215405
to this https://www.nzherald.co.nz/business/...ectid=12263320
I think Virgin shareholders are on a road to nowhere.