source of information please? because it doesn't fit into the structure on their investor presentation i.e slide amount crew/pilot teams etc.
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http://www.interest.co.nz/business/7...dging-strategy
Good article raising some discussion about fuel hedging for AIR
Editor of the N.Z. Herald gave AIR a real sustained pasting about the Hawaiian maintenance fiasco a while back that affected the SP, (the nature of the sustained negative publicity "attack" bordered on being actionable in my opinion so I warned him of that)...probably gave associated parties and his family interests a good opportunity to buy...and then suddenly a string of positive news and the SP went north...history repeating itself albeit more moderated and less sustained this time ?
There ya go Roger, AIR finished up. Still no where near your Aussie pals SP though! :)
Strong result.
44% increase in dividend payout.
Comes with possible earnings upgrade if the later half of the year that we all know. "The company stated in November that should the then current level of jet fuel price persist, there would be a significant additional improvement in earnings in the second half of the financial year. "
https://nzx.com/files/attachments/208674.pdf
Also I had the inflight service manager ask me for feedback on his team coming back from PVG saturday night. Seems like they might have high staff turnover on their Chinese teams? Regardless I felt it was positive in him asking direct for customer feedback.
Yep I am happy with that result. Normalised earnings excl VAH equity accounted losses are $230m up from $180m in the pcp (up 27.8%).
Company has quantified 2H net fuel gains at $82m at present prices.
Strong currency hedging in place for 2H 2015 and 1H 2016 at very attractive forward rates
Fuel gain of circa $250m in 2016 if fuel stays where it currently is
Analyst presentation https://nzx.com/companies/AIR/announcements/261096
Happy with the fully imputed dividend which is slightly higher than I expected
Company seems well pleased with the new Dreamliner performance
Air is very well positioned :)
current media release being live streamed via NZherald.
I wonder if this can be viewed later??
Initial thoughts:
better dividend then we thought!
Better cargo revenue and contract services revenue than I had (I was conservative)
They have spelled out the fuel benefit next year which is HUGE - $250m!!, this will get people excited.
And they have hedged FX very well
2H15 is 94% hedged at 0.8452 > 1H16 is 80% hedged at 0.8175
Obviously much better than 75c which is spot.
Expect the shares to be up today. Those brokers will be scrambling to upgrade their FY16 eps estimates... 31c... more likely 45c...
-Mod