Another infamous Investor Day for institutional gurus
Wonder what little gems will be hidden away in the presentation this time around
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Another infamous Investor Day for institutional gurus
Wonder what little gems will be hidden away in the presentation this time around
Remember 2 years ago mate when they had one and it included a slight downgrade and executives were selling left right and centre leading into the investor day including one large sale of several hundred thousand shares the very day before ! Of course we didn't get to see those disclosure notices until after the event.
This time around the SP has been quite weak since the start of this month and there is now a clear break down through the 100 day MA...join the dots...
If she blows through the previous recent support at about $3.13 it could test support at $3.00 fairly quickly in my opinion.
You're right in regard to those engines...where there's smoke there's fire. More issues, I wish I could say I was surprised. Dreamliner now officially a nightmareliner for AIR ?
Well, update this morning is that 'all is good'.... still need to go through the presentation though.
- the Company has reaffirmed the outlook for the 2018 financial year, stating "Based upon the current market conditions and despite the increased price of jet fuel, the Company continues to expect 2018 earnings before taxation to exceed the prior year"
just had a quick flick. couldn't see any mention about the RR engine issues? fuel headwinds in FY19?
thought there was plenty in there on the fuel outlook, and a good bit on fleet strategies (including RR cover). Good to see the hedge position protecting them at a US$71 average until December this year - that explains why they still see themselves as doing alright in FY2019. And the other takeaway for me was the fleet investment capex forecast - ongoign steady investment, with no horrendous lumps. Maintains the average of $600m pa.
Fantastic update.
http://nzx-prod-s7fsd7f98s.s3-websit...297/280962.pdf
Lazy hound slept in and hasn't read it yet. Plenty in there to digest.
Quick skim read all looks pretty good. Might have to trim my expectations for special divvies in 2020 2021 and 2022 down as they're obviously gearing up for massive capex in 2023-2025 with 8 replacement widebody aircraft in 3 years, that's probably something in the order of $2b+
Must admit Luxon has built a good culture there. Good they're leasing 2 x 777 aircraft to cover for RR problems. RR will cop some serious heat in terms of cost recovery.
Excellent that their business model has been able to be adjusted to cope with rising fuel costs.
Pretty slick operation really.
Agreed, you don't build a culture like that overnight. http://www.sharechat.co.nz/article/f...d-earningshtml
Based on 22 cps annual dividends fully imputed (22 / 0.72) / 315 the forecast gross yield is 9.7%. I see that going forward as sustainable, (plus possible special's in the next few years) and the company is trading in an environment where according to IATA forecasts international demand is growing at ~ 7%.
Now we have this update in and confirmation of profit forecast we know their business model is demonstrating good resilience so despite the fuel price headwind for FY19 I think $3.15 is pretty sound buying in a market that's broadly considered to be very fully priced.
Looks a solid presentation from a quick skim... Noticed the 777-200 replacements have slipped back a couple of years..
Extra domestic A320 capacity all good too.
Not too sure if this stock could get slammed at some stage if/ when some international institutions decide to pull some money out of the NZ market seeing US interest rates are on the slow rise.. especially with AIR having such a large percentage owned by these institutions..
Something like (78%) of the free float stock?
Any thoughts?