They've got deep pockets over there in Dubai
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They've got deep pockets over there in Dubai
100 billion of orders to Boeing this week
Emirates 150 odd 777s whatever they are
http://america.aljazeera.com/article...aiairshow.html
Yes, some of the 777-200ER's are looking quite tired but they are all scheduled to be refurbished beginning in early 2014. IMO this should be done immediately, but I guess AirNZ may have deferred this upgrade for cashflow or logistical reasons.
I do wonder whether the new white coloured BP seats in the 777-300ER's will weather well, compared to the brown coloured seats which tend to hide scuff-marks/damage much better. This might lower the lifespan of the product and hence raise costs. Time will tell.
That's a very good price via Singapore, more comparable to the BP specials on AirNZ. Well done! :) The Oneup upgrades usually take a few empty seats from BP as do recognition upgrades, but I do get the feeling that the revenue team purposefully hold back some Oneup upgrades that otherwise would have made it, just to ensure that the system isn't being gamed.
Thanks, but it was no great achievement. You could get the same fare of NZD8,522.58 next week if you like, vs AirNZ for NZD10,997.48. Incidentally, Emirates will get you there for NZD9,904 - will stop with the fares right there as I'm not WebJet :)
I'll also take this opportunity to stop going on about this - my observations are not the whole picture and I have no desire to attack our national airline (privatised or not). I had my concerns, exited happy and genuinely wish the best for remaining holders - just wanted to add something towards the 'other side' of the debate.
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.