AIR - Air NZ.

[Waltzing]

And last but not least ...

https://www.youtube.com/watch?v=JjokXtoiQd4

[Sideshow Bob]

Air New Zealand 2022 Interim Results - NZX, New Zealand’s Exchange

Interim results summary
• A statutory loss before taxation of $376 million for the six-month period ending 31 December 2021
• Operating revenue 9 percent lower than the prior period, driven by a 26 percent decline in passenger revenue due to the national alert level restrictions and 107-day Auckland lockdown
• Cargo revenue increased 29 percent on the same period last year to $482 million, supported by Government freight support schemes
• Fuel costs increased 14% to $174 million for the half year, with the increasing cost of fuel expected to impact the second half
• Drawings under Crown Standby Loan Facility (the Crown Facility) are $760 million as at 23 February 2022
• Liquidity of $1.4 billion as at 23 February 2022, made up of approximately $170 million of cash and $1.24 billion of available funds under the remaining Crown Facility and Redeemable Shares
• Steps to recapitalise the balance sheet are underway including an equity capital raise that is intended to be launched by the end of March 2022 or shortly thereafter, subject to market conditions
• Dividends remain suspended
• Current expectation for the full 2022 financial year is a loss before taxation and other significant items that will exceed $800 million

[Sideshow Bob]

This thing is still running on fumes......8th wonder of the world how it is trading in the $1.50-1.60's.....

[percy]

This thing is still running on fumes......8th wonder of the world how it is trading in the $1.50-1.60's.....

Incredible.............................????

[BlackPeter]

Air New Zealand 2022 Interim Results - NZX, New Zealand’s Exchange

[FONT="]Interim results summary[/FONT]
[FONT="]• A statutory loss before taxation of $376 million for the six-month period ending 31 December 2021[/FONT]
[FONT="]• Operating revenue 9 percent lower than the prior period, driven by a 26 percent decline in passenger revenue due to the national alert level restrictions and 107-day Auckland lockdown[/FONT]
[FONT="]• Cargo revenue increased 29 percent on the same period last year to $482 million, supported by Government freight support schemes[/FONT]
[FONT="]• Fuel costs increased 14% to $174 million for the half year, with the increasing cost of fuel expected to impact the second half[/FONT]
[FONT="]• Drawings under Crown Standby Loan Facility (the Crown Facility) are $760 million as at 23 February 2022[/FONT]
[FONT="]• Liquidity of $1.4 billion as at 23 February 2022, made up of approximately $170 million of cash and $1.24 billion of available funds under the remaining Crown Facility and Redeemable Shares[/FONT]
[FONT="]• Steps to recapitalise the balance sheet are underway including an equity capital raise that is intended to be launched by the end of March 2022 or shortly thereafter, subject to market conditions[/FONT]
[FONT="]• Dividends remain suspended[/FONT]
• Current expectation for the full 2022 financial year is a loss before taxation and other significant items that will exceed $800 million

{\irony on}

Well, cargo revenue increased, fuel costs increased and looking forward to another peak loss of >$800m nearly trying to compete with the ATH of 2020 ... all up, this must be good, isn't it?

As well - CEO sees light ahead ...

Despite the remaining uncertainty around future travel demand and ongoing impacts on financial performance, Mr Foran can see light ahead for the airline.

“Looking at what is happening around the world and at home, we can see the path back to the Revive phase of our Survive, Revive, Thrive plan. We have the right strategy, the right people and we are ready to fly. We’re excited about welcoming Kiwis home in the coming days and months and international travellers back to Aotearoa later in the year.”

Lets hope it is no mirage;

Must be a buy ... only disappointment - no divie ;

{\irony off}

OK - I am sure tax payers will keep them alive, no matter the cost and it is clearly in NZ's interest to have an operating Airline.

Just a pity the government missed the opportunity to get rid of the ballast and turn this into a light and agile carrier. So many superfluous and overpaid pigs feeding at the trough ...

[Stranger_Danger]

If anyone still believes in Efficient Market Theory, perhaps a small look at Air NZ would do them some good.

[Dassets]

AIR has no professional investors( or semi) or fund managers who aren't indexers left. There is still a bunch of buyers(unnamed but people can guess) in there day after day who have plowed close to $180m in it so far without knowing it is worthless.

As for the CEO, I am tempted to count the number of times he has said there is light at the end of the tunnel. Problem Mr Foran the light isn't getting closer. You are stationary in the tunnel and have run out of Jet A1.

[Sideshow Bob]

AIR has no professional investors( or semi) or fund managers who aren't indexers left. There is still a bunch of buyers(unnamed but people can guess) in there day after day who have plowed close to $180m in it so far without knowing it is worthless.

As for the CEO, I am tempted to count the number of times he has said there is light at the end of the tunnel. Problem Mr Foran the light isn't getting closer. You are stationary in the tunnel and have run out of Jet A1.

I do feel sorry for Greg Foran however. Got to appear upbeat, but had only a few days starting at the helm before Covid hit. Terrible circumstances, unprecedented situation and from the outside appears to have done a creditable job. Hamstrung by Govt's fortress mentality.

[Recaster]

This company should have gone into receivership early on in the coronavirus saga. It could have started from there as a much smaller airline.

Not sure if the government guarantees its leases though. It could have restructured its whole operation. Maybe walked on some of the pensions.

It'll end up costing the taxpayer a few billion when all is said and done.

Nation pride in this case is national folly. Still the socialist dream is to make all dependent on the state.

Not massive compared to the 57 billion dollars of falling bonds the rbnz is stuck with I guess.

[Beagle]

In terms of the potential for capital destruction, this is arguably the highest risk investment on the NZX.