AIR - Air NZ.

[skid]

Sure...bit like the reaction for the good results from SUM. Both operate in sectors with good current tailwiinds.

I think Quantas also had a similar scenario---maybe we should all go back to uni and study Psychology

[Mickey]

Typical market reaction!!!

Mr Market sure moves in mysterious ways... I'm watching some of the SP movements following pretty good results and they are all over the place - AIR, AIA, SPK, NZR & SCL to name a few. Happy with the divvies though and less worried about the SP fluctuations for now (unless of course they start heading too far south....)

[Jantar]

This person isn't so enamoured in AIR
http://www.stuff.co.nz/travel/travel...-pack-her-meal
$5k London-Auckland return and they can't get her a meal!

She can't eat gluten, dairy, sugar, fish, pork, and a few other things. I'm sure they could have provided her with a bottle of water. Her list of what she can't eat rules out any and every other type of food. Even fresh fruit contains sugar.

[winner69]

Vin, don't worry

Action will come after lunch - always does

[brend]

ruthless revenue growth was a key word Luxon used.

[Beagle]

I felt the conference call went well and analysts were by and large happy that AIR are up to the task of managing the company in a highly profitable growth oriented way and are comfortable with the new competition coming.

Unit costs down 11%.
New long haul routes have lowered average yields a little which is to be expected.
AIR feel their launch of Bounes Aires and Housten have gone exceptionally well and that they have done phenomenally well to make these routes profitable from day 1.
Most of the growth in FY17 is annualisation of existing new routes
2% growth in full time employees compares to 16% growth in RPK's
Cargo business in great shape
American airlines basically using corporately configured aircraft on their new route down here ~ 230 seats per aircraft...will grow the market overall.
AIR returning to a more normal competitor environment
AIR has "never been better positioned" C Luxon
The brand has "never been stronger"
$36m of extra sales and marketing costs this half included expensed costs to launch new routes
9 new Dreamliners on hand by Nov 2016 making this new efficient type the most prolific wide body aircraft in the fleet.
Higher capex over next few years as average aircraft age comes down dramatically ensuring a highly modern and fuel efficient fleet going forward.
"As we look toward the latter part of this decade there is tremendous potential for cash flow generation"...signified to me capex to dramatically tail off from Fy18 onwards.

Overall impression - They're managing our airline extremely well with maximum medium term profitability their #1 priority.

[percy]

I felt the conference call went well and analysts were by and large happy that AIR are up to the task of managing the company in a highly profitable growth oriented way and are comfortable with the new competition coming.

Unit costs down 11%.
New long haul routes have lowered average yields a little which is to be expected.
AIR feel their launch of Bounes Aires and Housten have gone exceptionally well and that they have done phenomenally well to make these routes profitable from day 1.
Most of the growth in FY17 is annualisation of existing new routes
2% growth in full time employees compares to 16% growth in RPK's
Cargo business in great shape
American airlines basically using corporately configured aircraft on their new route down here ~ 230 seats per aircraft...will grow the market overall.
AIR returning to a more normal competitor environment
AIR has "never been better positioned" C Luxon
The brand has "never been stronger"
$36m of extra sales and marketing costs this half included expensed costs to launch new routes
9 new Dreamliners on hand by Nov 2016 making this new efficient type the most prolific wide body aircraft in the fleet.
Higher capex over next few years as average aircraft age comes down dramatically ensuring a highly modern and fuel efficient fleet going forward.
"As we look toward the latter part of this decade there is tremendous potential for cash flow generation"...signified to me capex to dramatically tail off from Fy18 onwards.

Overall impression - They're managing our airline extremely well with maximum medium term profitability their #1 priority.

Thank you Roger.
Yes they certainly are managing "our" airline extremely well."
Leaves us "well positioned."
An excellent result.
Right people,right aircraft,right routes.Can't ask for more.!

[Beagle]

One more snippet. Airpoints members up 17% this half to 2 million...pretty useful for expanding their digital marketing efforts one would have thought.

So there we have it. EPS for 2016 at least 60 cps put the stock on a forward PE of less than 5 trading cum dividend. Seems too cheap to me but DYOR folks and decide for yourself. I am a happy holder and have a high degree of confidence the management team will perform well over the long haul.

[Biscuit]

Vin, don't worry

Action will come after lunch - always does

They must be having a long lunch

[vin]

Vin, don't worry

Action will come after lunch - always does

Just finished my early arvo sweet craving, a boy waits.