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27-08-2020, 09:53 AM
#17931
Originally Posted by Heimand
I think 200m left by 25th of August.
No it was approx $200M left at the end of June.
And since then, burnt through $85M of that in July & another $85M in August (well we're almost at the end of August).
So all gone in next fortnight at this rate.
Ongoing hoping to get cash burn down as low as $65M per month & might be a few years before travel returns to anything resembling normal.
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27-08-2020, 10:00 AM
#17932
Originally Posted by Blue Skies
No it was approx $200M left at the end of June.
And since then, burnt through $85M of that in July & another $85M in August (well we're almost at the end of August).
So all gone in next fortnight at this rate.
Ongoing hoping to get cash burn down as low as $65M per month & might be a few years before travel returns to anything resembling normal.
Just read the announcement
“ Short-term liquidity as at 25 August 2020 was approximately $1.1 billion, made up of cash and the $900 million standby loan facility from the New Zealand Government.”
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27-08-2020, 10:02 AM
#17933
Probably burned through more in August as a result of the Auckland lockdown.
Liquidity (if you can call it that because of the degree of prepaid airline tickets which are technically a liability) was $235m as at 30/6/20, (PowerPoint presentation).
The fact that they are talking about drawing down on the Govt loan "within days" suggests total cash burn for July-August is VERY close to $235m !
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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27-08-2020, 10:02 AM
#17934
Originally Posted by Beagle
I think its politically inconvenient for the Govt to do so because some of its voter base would think the Govt is supporting capitalism.
Indeed, can't be supporting capitalism! Any suggestion of that and the left will be typing even more anti-capitalist messages into Facebook, from their Apple device, prior to doing some comfort shopping at Amazon, often with money given to them after it was forcibly extracted from others, to make themselves feel better after even having to think about that dirty, evil capitalism.
Oh to be so pure.
----
Never try to teach a pig to sing. It wastes your time and annoys the pig.
----
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27-08-2020, 10:32 AM
#17935
I've never seen a company run out of cash, be drowning in debt, have a very poor outlook in the short to medium term and still be valued $1.6 billion (without fiddling the books that is) - yet AIR today, with its share price flat on the open, has proved it can be done!
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27-08-2020, 10:34 AM
#17936
Member
Originally Posted by trader_jackson
I've never seen a company run out of cash, be drowning in debt, have a very poor outlook in the short to medium term and still be valued $1.6 billion (without fiddling the books that is) - yet AIR today, with its share price flat on the open, has proved it can be done!
Almost a monopoly + Brand
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27-08-2020, 10:37 AM
#17937
Originally Posted by Paradox
Almost a monopoly + Brand
A monopoly when times are poor and everyone loses money maybe, a highly intense competition when there is breakeven/a fraction of profit to be made - so not sure how 'almost a monopoly' is actually a good thing right now, but as for the brand... I personally don't think AIR NZ's brand is worth remotely close to $1.6b but at least it isn't a negative value I suppose
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27-08-2020, 12:04 PM
#17938
Originally Posted by Beagle
I think its politically inconvenient for the Govt to do so because some of its voter base would think the Govt is supporting capitalism.
Really? Even the socialists like to fly sometimes.
Originally Posted by trader_jackson
I've never seen a company run out of cash, be drowning in debt, have a very poor outlook in the short to medium term and still be valued $1.6 billion (without fiddling the books that is) - yet AIR today, with its share price flat on the open, has proved it can be done!
It really does defy belief.
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27-08-2020, 12:08 PM
#17939
flying on fumes!!! that slow whine you can hear is the turbines slowing down as the fleet joins the birds flying south....
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27-08-2020, 12:09 PM
#17940
Air needs to raise capital and reject the government loan... extortion by the non believers.
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