AIR - Air NZ.

[Kelvin]

The 777 will go into daily Tokyo flights from 30 October while Shanghai gets 3 extra 787 services a week from 17 December

[B747-419]

Another from Stuff

http://www.stuff.co.nz/business/indu...go-cartel-case

The only good thing in that article is the photo!!

[Beagle]

When the button is pushed on a portfolio change, they go for broke - plenty of brokerage to be made by the house brokers.

Of course...I used to be one of their clients many years ago. Thank you for reminding me...a leopard doesn't change its spot's does it !

[couta1]

The only good thing in that article is the photo!!

Yeah, just another sensational article full of ifs, buts and maybes.Nothing to read here, let's move on.

[Beagle]

I think they did the right thing here in settling. They really had no other option after in March 2016 the ACCC successfully appealed the earlier federal court's ruling...a matter that is yet to be settled. I recall that in the earlier Federal court decision AIR was awarded $3m in costs, something that will of course be reversed unless AIR win a higher appeal ? With that recent surprise in the Australian judicial system its no surprise that they wanted to mitigate risks in America the most litigious country in the world.

[Baa_Baa]

Yeah, just another sensational article full of ifs, buts and maybes.Nothing to read here, let's move on.

Good grief, just sweep it aside like it's not happening, when it's been happening for 5 years!

Now hopefully resolved with only a $35 million payment to wiggle out of a stupid US law that says (in plain english) "even though you've won the court cases saying you're innocent, if we fry any of the so called cartel that you've been indicted with, then you AIR are jointly and severally liable, for upto 3 times the total settlement = $8 billion". I thought it was good article and thank goodness the Directors flicked em $35 big ones and this is the end of it, hopefully.

It's alright to be an eternal optimist but pretending to be blind and that that somehow immunises oneself from reality seems pretty foolish for a shareholder.

[Balance]

Of course...I used to be one of their clients many years ago. Thank you for reminding me...a leopard doesn't change its spot's does it !

Hard to ever forget (or forgive) Forsyth Barr for loading up their clients' portfolio with Feltex to the gunners (public information from Feltex court case).

[couta1]

The chances that Air would have had to pay 8 billion is about the same as you winning the major lotto prize two weeks running Baa Baa.PS-They still got US35 mill of our money for jam, the buggers.

[Beagle]

Maybe, maybe not, Couta1. Mate we don't know all the facts of the case. There has to be a reason so many other airlines settled as well....where there's smoke...

BUT mate its like one of those really bad advertorial shows on T.V. But wait there's more ! The Australian jurisdiction has yet to be settled "extract from above article"

In Australia 13 airlines have settled for an average A$7.6m (NZ$8.2m), with Qantas paying A$20m.

If they settled for the average that's another $8.2m Kiwi plus the reversal of the previously awarded costs by the federal court $3m plus any award of the ACCC costs, say another $3m so about another $14.2m Kiwi.

One could also ponder if AIR's senior management knew the company was looking to settle this freight case in mediation in America at the time they sold their shares and ponder if they knew it would be for a material amount, doctrine of materiality is >5% of expected net profit after tax for the year, which it was. We have a "lovely level playing field" and I'm signing off for the day to enjoy a couple of well earned Tui's.

[Baa_Baa]

The chances that Air would have had to pay 8 billion is about the same as you winning the major lotto prize two weeks running Baa Baa.PS-They still got US35 mill of our money for jam, the buggers.

Not exactly, AIR couldn't pay $8b, they would be ruined and all shareholders lose everything (like last time for different reasons). So there's $35m paid out that won't be in the Dividend. And the Class Action successfully scours $1.2 billion out of all those airlines as compensation. They wouldn't pay if it 'wasn't ever likely' to have gone the full distance. Surprising how the vermin lurking under the floorboards of AIR take years to come to light and be resolved, but the rats nest can't be ignored.