Jetstar let you down in my experience. They have no qualms about cancelling a flight.
However I am also of the opinion that anecdotes don't provide a valid analysis for evaluating a company as an investment :p
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AIR sell down completed at 1.65.
http://www.nzherald.co.nz/business/n...ectid=11159607
IMO, This is quite bullish. Most sell-downs have a discount.
I cannot fathom that at all. How do the govt manage to do that. They got top price for MRP, near top for MELCA and now top price for AIR. Why would anyone want to buy at 1.65 in this placement when they were readily available on market at 1.65. Supply has now increased significantly and I cannot see them go up in the near future. Puzzling.
For many institutions AIR would have been unattractive prior to the sell down because:
1. Liquidity was poor
2. They knew a sell down was coming and just needed to wait. They probably thought they could get the shares at a discount.
These 2 factors are gone now. Also, the free float has nearly doubled. This means AIR will move up the indexes. Expect institutions to be buying in for this reason as well.
Most brokers think AIR is cheap at these levels. Consider this, AIR is trading at less than half the PE ratio of the power companies. At least AIR has potential for growth. Thus I don't think the government have got top price.
Come election time, I reckon AIR will be the only SOE float in the black.
So when are you going to sell up Belg :-))
FYI Just looked up the load factors on those SQ flights and there is plenty of availability on the ones returning $8.5K, while NZ are showing moderate to low availability for the same period. NZ do price their product higher but perhaps that is in the belief that theirs is superior? Anyway yes, anxious that this doesn't turn into a beat up too. Whatever NZ are doing is obviously working overall as things are looking good.
well, if it goes higher, that muppet (beaker, if I recall) and the guy in the seaweed suit who lead the opposition will probably drag out the 'firesale' comment again. I haven't heard if pumpkinhead Cosgrove has had anything to say - probably told to shut up by the muppet.
Why did the government only sell down to 53% and not to 51%?
Is a capital raising on the horizon?
1.65 is a great price, the overhang has been holding AIR back for a couple of years so good to see it gone at a high price. Expect to see the share price fly higher this week.
Sorry but that is incorrect - the Airline is buying shares for that purpose, but that has nothing to do with the Govt.
I wonder if Air NZ may announce that it will purchase 3 or 4% of its stock back from the govt (as I have been calling for), bringing the govt stake down to 51%. This would explain the lack of buy-back so far. There is no chance in hell of a capital raising. They have too much cash already!
Re the comments about SQ etc - the truth is Air doesn't want to fly you to Europe - its not profitable for them. Look at the financial performance of SQ... It's a tool for promoting Singapore.. Same for EK and Dubai.
No idea what the share price will do in the short term from here - but very happy this uncertainty has been removed. And very optimistic about how the company is going.
Oops - heard from a broker that some retail investors bid aggressively, going for 2 or 3 times what they wanted, expecting to be scaled back.
Instead, they received 95% of what they bid for.
Watch the institutions help these investors off their overbid shares at 5c to 8c discount from the $1.65.
My broker was ringing me again this morn trying to flog some; nada.