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AIR - Air NZ.
Has Air NZ clawed it's way back into consideration?
From the Herald article "Flying high from a hospital pass" Sept 19 2004
Question from Herald hack, CHRIS DANIELS.
(Are you) surprised at the quick turnaround? The sheer speed of the recovery?
Answer from JOHN PALMER chairman of Air New Zealand.
"To be honest, yes. To think we could have made the sort of progress in 2 1/2 years that we have made is not something I would have been betting on at the time."
AIR NZ plans to pay 25-35% of profits (this year $166m) as a dividend in 2005.
Is AIR NZ worth buying?
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certainly a pretty unique airline in the world business - making money and working to change the airline's outdated culture. Norris has done a good job injecting new blood... is it worth a buy?? well - it was a better play before the rationalisation
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rmbbrave, you would be a braver person than I to risk your money on Air New Zealand.
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They've just done a deal with Rolls Royce to service their (RR's) engines. Confirms ongoing revenue.
Trading halt due to expected announcement of High Court decision on Qantas/Air NZ merger.
A red letter day for Air?
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THE KING says even as a shareholder of Virgin Air flying back to Wellington 6 Oct on QANTAS because of price they beat AIRNZ, But today when you fly you must shop around on internet for best price and it changes by the Day and even by the HOUR.. [^]
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I have always though Air NZ is a company that could be competitive internationally because planes, fuel and landing fees cost all airlines pretty much the same. However, wages vary from country to country. NZ has the lowest wages in the OECD meaning AIR NZ should be more competitve than American, European, Aussie and some Asian based Airlines airlines at least.
There are disadvantages of course, one being that NZ is at the end of a line. The other was an over-adventurist management with delusions of grandeur that led to the Ansett disaster. Lets hope the management have learnt their lesson.
However they may not have - as they are still squandering time and money persuing a Quantas merger which all (except Quantas and Air NZ) know is anti-competitive.
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so its a no from the Court - I guess noone really factored on a reversal
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rmbbrave
Have to disagree about the delusions of grandeur comment that led to the Ansett disaster.
The history is quite different, and it is more about a NZ company being screwed by politicians in Australia. One minute they had an open-skys policy; the next they didn't.
Under the conditions of the time what Air New Zealand where trying to do was sound strategy.
We can all get it right with the benefit and accuracy of hindsight.
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20m brought them the 2 years required to recover, rather than have Qantas finish them off. Probably 20m well spent......
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THE KING says when the stock hite $1 ,, Buy till your pants fall off..[V][V][V]
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Well the upcoming rights issue might give you cheap entry. I suspect it will be renoucable, tradable and the govt will take to oportunity to reduce it's holding...
http://www.stuff.co.nz/stuff/0,2106,3039709a13,00.html
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For you techies - Air NZ has support @ around $1.80 (todays close.)