Christopher Luxon rebuttal on the Air NZ v Virgin Australia battle.
http://www.stuff.co.nz/business/indu...on-speculation
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Christopher Luxon rebuttal on the Air NZ v Virgin Australia battle.
http://www.stuff.co.nz/business/indu...on-speculation
http://www.nzherald.co.nz/business/n...ectid=11156635
Interesting push from National
http://www.radionz.co.nz/news/nation...on-air-nz-sale
No decision made on Air NZ sale
Updated about 1 hour ago
The Government says no decision has been made about it when it might sell shares in Air New Zealand.
Business analyst Brian Gaynor said on Thursday there is a strong chance the Government will sell off part of its stake in the the next couple of weeks.
The Government owns 73.4% of the national carrier and intends to sell down to 51% as part of its asset sale programme, but has not indicated when.
Associate Minister of Finance Jonathan Coleman said on Thursday that Finance Bill English has not made any final decision.
Mr Gaynor, the executive director of Milford Asset Management, said regulations about insider trading dictate when and how the Government sells the shares, and the window of opportunity is small.
"The Government gets monthly accounts from Air New Zealand, therefore, it's considered to be an insider.
"Under the insider trading guidelines, the Crown cannot sell the shares after the first of December until the beginning of March. If it wants to sell them over the next two or three months it has to sell those shares by the end of November."
Mr Gaynor told Radio New Zealand's Morning Report programme airlines are always considered a risky investment, but Air New Zealand has been doing well.
The Treasury denies there is only a small window of opportunity for the Government to sell the shares. A spokesperson said on Thursday the Crown can trade regardless of such restrictions.
The spokesperson says ministers and Treasury officials who are involved in decisions about the Crown selling its shares in listed companies do not have any non-public information that would legally prevent the Crown from making the transaction.
NZHerald: Government Sell Down Now On
Stuff: Similar Thing
20% available
Best Wishes
Paper Tiger
Already received an email from my broker....
How do i get my hands on some shares? i have account with ASB and Direct brooking
Roll-up roll-up, get your tickets for the Virgin Australia cash burn here. Give your cash to the nice Kiwi lady. Pay no attention to Michael Cullen hiding behind the curtain.
Boop-boop-de-do
Marilyn
I've been waiting for this.
I - with much shame - must admit to owning Air NZ, for the second time, having not been happy with an 80% loss the first time around. Maybe I should go for 90% this time?
I don't know what it is with airlines. Even with all the history, and knowing the Branson quote, and reading Buffett rant about the subject, I've still ended up owning it twice.
I think the problem is, the time you should be selling it (ie after things have gone right for a short period, in other words, just before they invariably go wrong again), it always looks cheap. Plus there is so much operating leverage, "if only this..." and "if only that..." they'd consistently make real money.
I've held on recently due to positive momentum and suspect a larger free float may push it up further.
Shoot me if I still hold it in a year.
Im hearing around $1.60 plus brokerage of course.