AIR - Air NZ.

[causecelebre]

This is just so typical of Air NZ management. Laying off all their lowest paid employees, while taking a measly 10% pay cut from their $800k+ per year salaries and issuing themselves more shares in the company to offset any perceived salary sacrifice.

Happened under Luxon also, told all frontline employees there was no money for a bonus so paid them $100 each (before tax) as their annual bonus, then after the fact, its disclosed he left with a $2.4m golden handshake, after being paid an annual salary of $4m+ per year.

I'm not a share holder, would like to be, but while the current muppets are running the show, I wouldn't touch it with a 20ft barge pole.

I know it's a bitter pill to swallow. Need to keep in mind that those shares don't mature until 2023 and payed out only if the AIR outperforms competing airlines. Hmmm, hardly high standards to live up to.

[Marilyn Munroe]

The spreadsheet jockeys at Bain are now in the pilot seat of Virgin(Underarm Bowlers Division).

They are going to want a return on their $3.5 billion investment. The wing commanders at Cullen Airlines and air marshal Robertson should prepare for a dog fight over the Tasman when it reopens.

https://www.abc.net.au/news/2020-11-...pital/12892508

Boop boop de do
Marilyn

[nztx]

Good grief - $1.665 or near abouts - the price some are prepared to pay to be diluted down the river
with a large further Cap Raise price tag sometime in the not too distant future

Looks like fairly dire punishment for those buying AIR on name only not thinking more carefully

[winner69]

Bill Gates reckons half of business travel will never return

[Beagle]

Bill Gates reckons half of business travel will never return

Yeah, I reckon he is right. Gotta say Greg Foran has a lovely calm relaxed manner about him. https://www.nzherald.co.nz/business/...UUS6N3M3SVKRU/ Possibly the right man for the job but the headwinds are still much to fierce for me to consider reinvesting.
I am happy to let others donate their money to AIR to help restore their balance sheet. Time will tell in which year they have a viable business again but there's no question its not FY21 and extremely unlikely to be FY22 either !
Maybe breaking even in FY23 and a very small profit in FY24 on about twice the number of shares presently on issue.

[causecelebre]

Yeah, I reckon he is right. Gotta say Greg Foran has a lovely calm relaxed manner about him. https://www.nzherald.co.nz/business/...UUS6N3M3SVKRU/ Possibly the right man for the job but the headwinds are still much to fierce for me to consider reinvesting.
I am happy to let others donate their money to AIR to help restore their balance sheet. Time will tell in which year they have a viable business again but there's no question its not FY21 and extremely unlikely to be FY22 either !
Maybe breaking even in FY23 and a very small profit in FY24 on about twice the number of shares presently on issue.

Not surprising to see that article. AIR have been touting a focus toward high value travellers for some time. Obviously coordinated with the recent announcements from tourism minister, Stuart Nash, around the same focus.

[nztx]

Goodness me -- still flying (or drifting) higher is Robertson Air - $1.70 & and a half

The old proverb -- 'the higher they are the faster & harder they may fall' comes to mind


A Cap Raise grab from shareholders pockets coming up may be at higher that 50c a shot, on the current blue air levels as well

Then the unfortunate minorities get informed of the vast pile of recent AIR Red Ink that their hard earned has replaced which evaporated mysteriously into the upper thermals, with still mostly cloudy forecast future prospects expected ..

[Waltzing]

On the B Gates interview there were other commentators that said that their fly boys and girls were ready to go and bump the elbows was the way to go... business class seats ripped out? lets face it that long haul in the middle of the night from auckland , singapore over moscow to copenhagen is a business class only trip...and those old singapore 777 were to noise , the newer 950 is the way to go i think.

[Waltzing]

i suppose the CAP raise is only getting the green light after all the expensive loan from the government has been taken down? really this is a total disgrace from the major shareholder.
Or govt is saying dont take any xmas money off the economic table..... hit them after please... summer over then hit them once the vaccines are out there...

[Cyclical]

This article in the Herald (Premium pay walled) from yesterday says:

Forsyth Barr says the Airpoints scheme is scalable, lights on assets and generates relatively stable earnings.

''We believe it is a higher multiple business than Air [NZ's] aviation business and contributes a material part of current share price,'' say analysts Andy Bowley and Scott Anderson.

''This may sound fanciful, yet a number of recent US airlines have used their loyalty schemes as collateral in recent funding events.'' The airline will raise capital in the first half of 2021.

Note the bit in bold, seems a bit out of the blue and I'm not sure who's actually saying that, I guess the Herald journalist (Grant Bradley). It's a fair assumption there will be a cap raise in the NY I guess and may only be that, an assumption.

https://www.nzherald.co.nz/business/...H65R7TT46ILSE/