When this came out I was interested in the multiple phases aspect. I hope its a positive one and SP seems to be holding today.
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Yes, I would have to agree with this. According to teir policy, they can't sell between the end of the reporting period and the interim/final report being released. So that means January, February, July and August are out.
I expect they won't sell too close to the start or end of that close-out period, which probably also cuts out December, March, June and September.
Is it really a surprise that insider sales at AIR only seem to happen in April and October? People have to build baches some time, you know!
Can I make a small observation about the way you (and others) are talking about, and investing in AIR.
You look as though you are treating it like a growth or tech stock, and looking past the old maiden that she is.
Its a cyclical stock, in a low margin industry.
Its a great div play, if it can keep paying. But in terms of the way its talked about versus what it is, most people seem to be misinterpreting the way it markets itself for the realities kind of company it is.
Its not some snappy new talking new walking kinda thang that will revolutionalise its industry. Its a same old, same old, do what the others are doing (admittedly with great marketing) gunna make a slow buck.
Dont get me wrong, the company is great, but it is what it is.
http://www.4-traders.com/AIR-NEW-ZEA...07/financials/
Consensus NTA as at 30 June 2016 $2.04 and as at 30 June 2017 $2.29, includes $112m of intangible assets listed in the balance sheet as at 31 December 2015, 9.9. cps for all the I.P. of AIR.
NTA metric comparison looks compelling compared to its peers.
Some people will want to buy at a discount to NTA taking into account recent issues and the potential loss from a possible VAH sale and quite frankly I can't say I blame them but that doesn't make a case of itself for me to sell this close to NTA so I for one will continue to hold.
Chinese middle class will travel as long as fuel is cheap and the economy is booming - maybe a new client group, but same old cyclical industry. The other thing to consider is - nearly anybody can open and run an air line these days - very small moat. Chinese are good in running airlines (e.g. Cathy Pacific is one of the top air lines world wide, but there are many others as well) and no doubt they all will keep improving.
Not sure I see the next handful of years as home run for Air New Zealand.
Added a few more the other day, average price now around $2.56 so that will do for now, actually my A2 shares are down more than Air as a percentage. A couple of superb rollercoasters to own if I may say so myself. PS-Survived the Xrocoaster so well qualified to ride this baby.:cool:
I am not on the same page as you on your opinion that somehow Chinese middle class travel is dependent on cheap fuel.
Cathay Pacific is hardly a "Chinese" airline so to speak - its biggest shareholder is the Swire Group and you will be offending many people by generalising Cathay as 'Chinese' and it is Hong Kong based airline.
Actually you are quoting the Book Value (or Net Asset Value) per share.
As any accountant should tell you this is different from
the Net Tangible Asset (NTA to his friends) per share which specifically excludes Intangible Assets.
In the case of Air New Zealand Intangibles (as they are sometimes called) is purely for certain items of [customised] software.
There is no other Intellectual Property on the books.
Whilst there is lot more to the value of an airline than a simple NTA multiplier and I personally consider current value to be well in excess of the current price I stick with my belief that owning airline shares is only for your multi-millionaire friends who have nothing better to do with their money.
Best Wishes
Paper Tiger
AIR will pick up the Chinese on the domestic network that is certain however the international market share on the Chinese coming here may well go against AIR given HAN recent strategic play into VAH. I actually think the domestic is often overstated for Chinese tourists as it is clear the main route is progressively direct into Auckland and then Queenstown.
Simply put the HAN play into VAH could well change AIRs growth potential.
looks like new lows soon I reckon higher oil prices even higher nzd after todays rbnz announcement
Higher fuel makes other less economical than AIR on some competing routes.
The well established path for Chinese Visitors is Auckland Rotorua Queenstown. http://www.tourismnewzealand.com/new...th-and-change/