AIR - Air NZ.

[Balance]

Doomsday merchants having a bad day.

[mcdongle]

Govt will need every vote in September

[Jaa]

$600m aviation support package announced. Edit this is for airports?!? Still talking to Air NZ.

[Blue Skies]

Why the clamour to put Air NZ on the hock? It is an excellent airline going through a short term crisis (not of its making) and simply needs some breathing space.

Heck, if NZ can bail out South Canterbury Finance depositors to the tune of $1.4 billion and keep throwing & increasing money by the tens of millions of dollars on re-opening Pike River to appease a few families, we can jolly well lend Air NZ $1 billion.

Great post, well said.

Reminds me of the GM bailout in the US, within a few years back in profit & paid back the loan with interest.

[dobby41]

$600m aviation support package announced.

Doesn't cover AIR though - for the rest of the space.

[Jaa]

Yup, the last companies I would help out would be the airports!

[Chinesekiwi]

Dividend - is up in the air.

Undecided - legal options will decide it, morally should not be paid but that is not relevant.

This is from Greg Foran just now.

[Balance]

Dividend - is up in the air.

Undecided - legal options will decide it, morally should not be paid but that is not relevant.

This is from Greg Foran just now.

Legally, I would be very peeved off if one had bought the stock cum-dividend. Means one am out of pocket vs those who bought ex-dividend the next day for eg.

Pay out first and then, if required, get back via a convertible or capital raising.

[Jaa]

Legally, I would be very peeved off if one had bought the stock cum-dividend. Means one am out of pocket vs those who bought ex-dividend the next day for eg.

Pay out first and then, if required, get back via a convertible or capital raising.

I agree balance. You either have rule of law or you don't. The dividend should be paid. Deeply discounted rights issue and government support package will keep the company airborne.

Directors could be personally liable either way and I guess they deserve to be. Should have suspended it.

[Beagle]

Legally, I would be very peeved off if one had bought the stock cum-dividend. Means one am out of pocket vs those who bought ex-dividend the next day for eg.

Pay out first and then, if required, get back via a convertible or capital raising.

Yeap, I think you would have a strong case if you bought the shares within a very tight timeframe before it went ex divvy, the tighter the timeframe the stronger you case BUT litigation is heinously expensive so unless you bought a massive amount of shares... the only real winner will be your lawyer.

I have never heard of a dividend being declared, it trading ex dividend and then being cancelled by the directors. I guess there's a first time for everything ? I guess they could get out of it on solvency concerns ?

Its probably academic anyway as I suspect a Govt underwritten, large and deeply discounted rights issue is imminent so they'll want the money back one way or the other.

My pick, is it stays in a trading halt and comes out only when the 1:1 Govt underwritten rights issue is announced at $1 share. That would raise about $1,100m and might see them through this thing, perhaps in tandem with a Govt loan further down the track if necessary.