ABC Australia headline;
"Airlines could shed 95 per cent of their workforce......"
I expect a similar decimation of airline jobs this side of the ditch.
https://www.abc.net.au/news/2020-09-...ction=business
Boop boop de do
Marilyn
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ABC Australia headline;
"Airlines could shed 95 per cent of their workforce......"
I expect a similar decimation of airline jobs this side of the ditch.
https://www.abc.net.au/news/2020-09-...ction=business
Boop boop de do
Marilyn
Great post Hoop and thank you for that very salient reminder. As you astutely remind us the post GFC recovery phase for AIR was excruciatingly slow and this is very likely to repeat when a safe and effective vaccine is widely available. Timing regarding backing up the truck is extremely important with cyclical's.
Something I think all intelligent people knew already. https://www.stuff.co.nz/national/hea...ses-discovered Despite all the public relations talk of assurances that flying is safe due to hospital grade air filtration, that's of absolutely no help whatsoever if someone seated close to you on the plane has Covid.
There has been now. Excerp from today's ministry of health statement. (Confirmation the three infected passengers were sitting close to the Covid infected person).
"Also on the flight was the man who tested positive for Covid-19 at the weekend whose virus is thought to have had a rare three-week incubation period.
The latest cases were seated near the infected man". Source https://www.nzherald.co.nz/nz/news/a...ectid=12367569
One would presume seeing that this charter flight happened very recently everyone on that plane was wearing a mask so it would appear masks are not much help either. :eek2:
I imagine he would be suffering from very severe anxiety. Was actually thinking of driving down to Taupo...thought if I took my car it would be a nice safe place for a little mini break. Hmmm.
Anyway it appears the charm offensive has commenced. I'm expecting many press releases about how well they're coping during Covid before the capital raise
https://www.nzherald.co.nz/business/...ectid=12367425
https://www.stuff.co.nz/business/ind...September+2020
Oh my goodness...the world is ending if the relationship between the All Blacks and AIR breaks down...whatever are we to do ?
AIR cap raise broadcast globally. 2021 time frame.
Much no doubt to your disappointment Beagle, seems Air NZ is in no hurry to raise capital. Longer they leave it, the more certainty for all concerned.
Of the $75m a month cash burn roughly only a third is operational with a third capital expenditure and another third various one off restructuring costs (fuel hedges, FX hedges, redundancies etc). The third part will naturally reduce over time and I am sure they will find ways to reduce the other two components too.
They better hurry before it becomes obvious that on top of the cash burn is another ~ $60m a month in depreciation as well as a prospect of another few hundred million to be written down on the 777-300's. Better conceal that till next year books after the capital raise eh Jaa ;)
Good they announced their intentions clearly so that you and your sharsies mates can save your pennies up for the issue and can't say you were ambushed. Save up hard mate, I am sure it will be an "outstanding" investment opportunity :p