I hope they got a bargain!
https://www.stuff.co.nz/business/ind...t-bain-capital
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I hope they got a bargain!
https://www.stuff.co.nz/business/ind...t-bain-capital
Morrison was asked whether he shared the view of Qantas Airways Ltd. Chief Executive Officer Alan Joyce that there was little chance of traveling overseas for at least 12 months.
Prime Minister Scott Morrison signaled that Australia’s borders may remain closed to most international visitors until the middle of next year as the coronavirus crisis escalates across the world.
https://www.bloomberg.com/news/artic...until-mid-2021
Ha ha .....the much maligned Jayne Hrdlicka helping Bain out
Might become CEO?
https://www.smh.com.au/business/comp...26-p556ik.html
Thanks mate, I enjoyed that read.
The aviation industry in deep turmoil + Jayne Herdlicka + Bain Capital wanting a decent return on risk capital + Australian unions already on guard against about Herdlicka's ruthless tactics + disaffected bondholders owed billions + an economy in deep recession and struggling to rid itself of Covid 19...what could possibly go wrong with that mix :D
Chris Luxon must surely be enjoying a wry smile he got AIR out of this forthcoming circus.
Well, Virgin is 'rooted', so surely they would have to change the name?
LOL. If I remember correctly they were paying Richard Branson a hefty royalty fee for the use of that name which I am sure they will want to avoid in the future.
Maybe Australian airlines would be a good name to try and stir up some nationalistic enthusiasm.
FMA warns on people abandoning term deposits and newbies getting into the market and AIR gets a specific mention (paywalled article) https://www.nzherald.co.nz/business/...ectid=12343320
"Retail investors piling in are thought to be part of the reason why the sharemarket has bounced back so quickly, with some people taking a punt on stocks like Air Zealand despite its uncertain prospects".
Greg must be very concerned about the virus getting back into the community as things slowly start to look a bit better for Air NZ.
https://i.stuff.co.nz/business/indus...oP_e1Gd_L1dPgA
Great news for the staff and other stakeholders including shareholders.
You may be right but I would like to see the monthly op stats first. Maybe after the July school holidays bump? The government loan does give Air NZ the flexibility to run their cash levels much lower than they normally would.
Lots of encouraging signs about demand from Cam on twitter and the above from CAPA who know far more about the industry than the equity analysts. 80% domestic capacity would be huge, could even be close to break-even on a normalised basis after all the cost savings. Regardless, with 65%+ domestic capacity their losses will seem much more manageable. Huge advantage over other airlines.Quote:
Australian-based aviation research centre Capa - Centre for Aviation has forecast domestic air travel capacity in New Zealand will recover to just under 80 per cent of pre-Covid-19 levels by the end of the year.
Premium looks like its taking longer to recover but cargo is the new premium.
https://www.stuff.co.nz/business/121...-a-pr-disaster
"I think Air New Zealand's done themselves significant brand damage and people will be a bit gun shy about booking travel".
http://nzx-prod-s7fsd7f98s.s3-websit...385/325383.pdf
Despite the talk of things improving the cold hard facts for May 2020, (remember we were out of lockdown in May), are that revenue passenger kilometres flown are down an incredibly sobering 97.1% !
I will be booking the new AIR BUS with Singapore Air the whole way next time not the NZ AIR to singapore connecting if possible. Another article in stuff showed the pretty shocking state of lack PPE on AIR NZ international flights compared to full PPE on some other air lines. Who ever is in charge at AIR on this needs to fired. Of course no one gets fired in NZ over any of this and if you suggest there is complete incompetence going all the way to the top you get email. Joyce will by now be in a bunker as the army of supporters descend on his mansion singing songs of the long road and waving big red flags.
and i will check my notifications box .... lucky our created technology is now euro based else i could get run out of dodge.
will still fly AIR to wellington in August to visit the NZSO.
https://www.stuff.co.nz/travel/trave...itude-to-virus
DISC: Travel for mainly business as our technology created here is now euro based and wont be travelling back until 2022. Skype and ZOOM plus HTTP can move our designs between continents.
Aunty Cindy asked u all not to travel for overseas holidays otherwise u all need to pay for the quarantine...
Also donate all your ticket ehh.. our nation needs u all!
https://www.jetstar.com/nz/en/fly-well
JetStar making free masks and sanitizing wipes available upon request. From a safety point of view it would appear they are the ones offering premium service in N.Z. now. If I fly domestically this year I will back the company that takes customer's health concerns seriously but frankly I have little interest in flying anywhere...travel by private car has never looked so good and with AIR's RPK's down 97% in May it would appear the vast majority agree with my point of view !
There are so many cars and trucks on the road these days I rather stay home or fly if I wants to go outstations. Traffics everywhere when compared with the pass few months. Have to support all those poor AIR shareholders.
Hold AIR