AIR - Air NZ.

[whatsup]

Lets face facts, AIR N Z is broke, what is needed now is a massive recap, so where is that money to come from,

1/ Off shore - nope.
2/ Current Share holders except the N Z govt - very little say 30% will pony up.
3? N Z govt- yes as they have done once before.

So imho its rinse and repeat again.

[Balance]

Lets face facts, AIR N Z is broke, hat is needed now is a massive recap, so where is that money to come from,

1/ Of shore - nope.
2/ Current Share holders except the N Z govt - very little say 30% will pone up.
3? N Z gove- yes as they have done once before.

So imho its rinse and repeat again.

Remember - I walk away.

Will sober up Jacinda and Grant no end.

[Beagle]

Lets face facts, AIR N Z is broke, hat is needed now is a massive recap, so where is that money to come from,

1/ Of shore - nope.
2/ Current Share holders except the N Z govt - very little say 30% will pone up.
3? N Z gove- yes as they have done once before.

So imho its rinse and repeat again.

Well yes, no and maybe ? Here's an interesting philosophical / moral question. Why bail them out and pay lucrative redundancy packages wherein some long serving pilots and management on $400K plus might be eligible for many hundreds of thousands, or perhaps in some cases $1m+ each in redundancy payments ? Why should hard working ordinary Kiwi's on modest money who pay their taxes give those guys a massive golden handshake and comfortable retirement ? Shouldn't these fat cats have their own retirement plans sorted out already ?

It might cost billions to keep them going for just one year with their bloated cost structure. Who's to say this virus is completely behind us one year from now ?
Why not just let the airline fail and start fresh which a massive clean out of the bloated cost structure and buy the assets off the receivers ? Receivers would continue to trade the company and the only buyer is the Govt who effectively nationalise the airline. That's the only way to properly clean out all the dead and old wood with its massive sense of entitlement mentality that's deeply ingrained in the culture of this company.

Under a new structure people could be paid based on a far more realistic basis that they have the security of a Government job for life. If they don't like that tell them good luck finding work with another airline and see you later. Sorry, but I don't think its right that the fat cats are kept in total luxury and comfort at the taxpayers expense.

P.S. In latest developments - N.Z. closes its borders completely effective from midnight tonight. I expect AIR will ground its entire international fleet by the end of the month or very very shortly thereafter. https://www.nzherald.co.nz/nz/news/a...ectid=12318284
AIR will be left with its domestic services only running at perhaps at 30-40% of normal capacity as the fear of lying means most will travel by car.

[Raz]

Well yes, no and maybe ? Here's an interesting philosophical / moral question. Why bail them out and pay lucrative redundancy packages wherein some long serving pilots and management on $400K plus might be eligible for many hundreds of thousands, or perhaps in some cases $1m+ each in redundancy payments ? Why should hard working ordinary Kiwi's on modest money who pay their taxes give those guys a massive golden handshake and comfortable retirement ? Shouldn't these fat cats have their own retirement plans sorted out already ?

It might cost billions to keep them going for just one year with their bloated cost structure. Who's to say this virus is completely behind us one year from now ?
Why not just let the airline fail and start fresh which a massive clean out of the bloated cost structure and buy the assets off the receivers ? Receivers would continue to trade the company and the only buyer is the Govt who effectively nationalise the airline. That's the only way to properly clean out all the dead and old wood with its massive sense of entitlement mentality that's deeply ingrained in the culture of this company.

Under a new structure people could be paid based on a far more realistic basis that they have the security of a Government job for life. If they don't like that tell them good luck finding work with another airline and see you later. Sorry, but I don't think its right that the fat cats are kept in total luxury and comfort at the taxpayers expense.

P.S. In latest developments - N.Z. closes its borders completely effective from midnight tonight. I expect AIR will ground its entire international fleet by the end of the month or very very shortly thereafter. https://www.nzherald.co.nz/nz/news/a...ectid=12318284
AIR will be left with its domestic services only running at perhaps at 30-40% of normal capacity as the fear of lying means most will travel by car.

Back here and in isolation, even Auckland airport was deserted...nice idea, I would look at it closely...the accumulated effect on the national accounts of all this means somethings that can be done need a reset. Future generations are owed it that we do this fiscally sensible where able. That even means forgoing my air point dollars!

[Beagle]

Welcome back Raz. I hope you have more time to post on here.

[Baa_Baa]

Jetstar cut 90% domestic, 65% jobs as well. Plane from AK half full, airport empty.

[bottomfeeder]

Loan, oh my god, the childlishness. As a Director I would be very concerned about trading while insolvent. A loan will not rescue the company. I have a sneaking feeling the Labour Government will let the company fail and Nationalise the airline. After all the Govt, will not let it fail, and will not prop up the other shareholders in any way from taxes. The propping up could continue for years. Sorry but I think shareholders have lost their capital on this one.

[silverblizzard888]

Loan, oh my god, the childlishness. As a Director I would be very concerned about trading while insolvent. A loan will not rescue the company. I have a sneaking feeling the Labour Government will let the company fail and Nationalise the airline. After all the Govt, will not let it fail, and will not prop up the other shareholders in any way from taxes. The propping up could continue for years. Sorry but I think shareholders have lost their capital on this one.

The balance sheet of Air NZ isn't that bad, they could likely find the money else where too or raise from shareholders before needing to go down or being nationalized. That views to pessimistic. Not a holder and won't be a buy when it opens tomorrow, but this company still has a profitable domestic market it can run its smaller planes in (unlike Jetstar who only operates large planes) and cash in the bank to keep things on life support.

[Beagle]

You cannot make money when you retain 70% of your staff but have only 10% of your business left. My money is on Rob Fyfe who as the former CEO of 7 years would know best and he is on record today estimating they are burning $211m a month from April onward. One virologist expert reported today he thought the virus could be with us for 18 months. That's 18 months x $211m = $3,800 million. Why should ordinary hard working Kiwi's pay to indulge the lifestyles of all those fat cats indefinitely ?

AIR will be broke by May 2020 or quite possibly a lot earlier without Govt support, in my opinion.

[trackers]

Well yes, no and maybe ? Here's an interesting philosophical / moral question. Why bail them out and pay lucrative redundancy packages wherein some long serving pilots and management on $400K plus might be eligible for many hundreds of thousands, or perhaps in some cases $1m+ each in redundancy payments ? Why should hard working ordinary Kiwi's on modest money who pay their taxes give those guys a massive golden handshake and comfortable retirement ? Shouldn't these fat cats have their own retirement plans sorted out already ?

It might cost billions to keep them going for just one year with their bloated cost structure. Who's to say this virus is completely behind us one year from now ?
Why not just let the airline fail and start fresh which a massive clean out of the bloated cost structure and buy the assets off the receivers ? Receivers would continue to trade the company and the only buyer is the Govt who effectively nationalise the airline. That's the only way to properly clean out all the dead and old wood with its massive sense of entitlement mentality that's deeply ingrained in the culture of this company.

Under a new structure people could be paid based on a far more realistic basis that they have the security of a Government job for life. If they don't like that tell them good luck finding work with another airline and see you later. Sorry, but I don't think its right that the fat cats are kept in total luxury and comfort at the taxpayers expense.

P.S. In latest developments - N.Z. closes its borders completely effective from midnight tonight. I expect AIR will ground its entire international fleet by the end of the month or very very shortly thereafter. https://www.nzherald.co.nz/nz/news/a...ectid=12318284
AIR will be left with its domestic services only running at perhaps at 30-40% of normal capacity as the fear of lying means most will travel by car.

I think its crazy to reasonably expect that the govt won't help given they're the national airline, high degree of public ownership and facing troubles due to government mandates. Guess we will see