AIR - Air NZ.

[winner69]

This day years ago

http://www.nzhistory.net.nz/teal-bec...ir-new-zealand

[Beagle]

And to celebrate AIR have some ripper specials which you'd almost think were an April fools joke on grabaseat...like under $500 return to Honolulu on a Dreamliner !

[Raz]

And to celebrate AIR have some ripper specials which you'd almost think were an April fools joke on grabaseat...like under $500 return to Honolulu on a Dreamliner !

Yes Rodger couldn't help myself...houston 749 return, see they are our best loved company...lucky for them given their mis-steps.

[Beagle]

Yes Rodger couldn't help myself...houston 749 return, see they are our best loved company...lucky for them given their mis-steps.

Sweet deal mate, congrats and enjoy...I am very tempted by Honalulu deal but comes at a very busy time of year for me so...as they say in the old Toyota advertisement, Bugger !

I sense the short term SP performance of AIR has become something of a lottery inextricably linked with how well they extricate themselves from Virgin. We could see a decent bounce if they execute well followed by a buy-back or special dividend. Pleased with what they're doing but wanting to sell and achieving a good result are clearly two separate matters and could possibly be hindered / delayed by regulatory consents.

This whole Ansett MK2 matter, (ouch... there I said it), is obviously something of considerable sensitivity, perhaps even embarrassment to AIR's board and management as its extremely unusual for them to decline to take any questions or interviews from the media after an announcement of that significance. Might save up one or two curly questions myself for the next annual meeting...

[Raz]

Sweet deal mate, congrats and enjoy...I am very tempted by Honalulu deal but comes at a very busy time of year for me so...as they say in the old Toyota advertisement, Bugger !

I sense the short term SP performance of AIR has become something of a lottery inextricably linked with how well they extricate themselves from Virgin. We could see a decent bounce if they execute well followed by a buy-back or special dividend. Pleased with what they're doing but wanting to sell and achieving a good result are clearly two separate matters and could possibly be hindered / delayed by regulatory consents.

This whole Ansett MK2 matter, (ouch... there I said it), is obviously something of considerable sensitivity, perhaps even embarrassment to AIR's board and management as its extremely unusual for them to decline to take any questions or interviews from the media after an announcement of that significance. Might save up one or two curly questions myself for the next annual meeting...

The number of times NZ executives think they can sort something in Australia...Rodger how did you feel about the accountants profession merging with the aussies or should I say takeover...

[freddagg]

I see Craigs have 2017 EPS of 40c and Morningstar 64c. I hope Morningstar are the more accurate.

[percy]

I see Craigs have 2017 EPS of 40c and Morningstar 64c. I hope Morningstar are the more accurate.

I am happy with either.
Craig's have 2017 eps of .53 cents,and PE 2016 of 5.3 and 2017 PE of 7.1 and steady yield of 7.7%.

[Beagle]

The number of times NZ executives think they can sort something in Australia...Rodger how did you feel about the accountants profession merging with the aussies or should I say takeover...

Yeah its a shocker mate and FAR more times than not ends up a mess.

Sorry, I can't put my thoughts into writing regarding that other matter, hope you understand why.

Analyst consensus is still 55 cps earnings for FY16 and FY17. http://www.4-traders.com/AIR-NEW-ZEA...07/financials/

Dividend yield nearly 8% net fully imputed, that's 11% gross, excluding the possibility of any special divvy or buy-back which may be on the cards again once they extricate themselves from the Australian ****.

PE of 5 so any potential buy-back would be highly EPS accretive.

[Regi]

Most loved firm... can't complain.

http://www.nzherald.co.nz/business/n...ectid=11614783

[Beagle]

Mean I know calling it Ansett but they should have known better so deserve it and I might yet make mention of Ansett MK2 fiasco at the next ASM, we will see.

So what's my wish list for the period between now and the annual meeting.

1. A clean and complete exit from Virgin that includes repayment of that short term loan they recently advanced to them. If they have to take a haircut on their misadventure then so be it but I'd like the exit to be clean, tidy, complete and executed before the next annual meeting.

2. A deal that includes an ongoing alliance between the two carriers, code sharing on flights in a way that's mutually beneficial.

3. Anything more than $350m Kiwi provided its clean and tidy is something I would see as a reasonable exit from this mess.

4. Continue to execute well and deliver an underlying profit of not less than $900m before tax for the year.

5. Last and by no means least - Pay out the full proceeds of the Virgin sale to shareholders

Until they can prove they can clean up this mess in a satisfactory manner I think the shares are fair value at around $2.85.

Disc - I presently hold only a modest position.