AIR - Air NZ.

[bull....]

Curious as to the 'no special div?' comment. Could you elaborate.

im speculating cause they got big expenses in new aircraft and declining revenues on the horizon can they really afford too? maybe depends if the biggest s/h has there arm twisted behing there back a,whispering in there ear

[couta1]

im speculating cause they got big expenses in new aircraft and declining revenues on the horizon can they really afford too? maybe depends if the biggest s/h has there arm twisted behing there back a,whispering in there ear

The arm will be twisted to breaking point and it will be a shout rather than a whisper.

[Master98]

http://www.afr.com/street-talk/buyba...0160613-gpicqz

I can't access this site seems talking about buyback or special dividen

[sb9]

The arm will be twisted to breaking point and it will be a shout rather than a whisper.

I'm picking there'll be a sweetener in form of special divvy especially after they coped big time last year from analysts/brokers for not declaring one on back of big profit. Big question is how much would that likely to be???

[sb9]

http://www.afr.com/street-talk/buyba...0160613-gpicqz

I can't access this site seems talking about buyback or special dividen

Here it is: (Sorry some of the stuff didn't come across properly)

""

• by
• Sarah Thompson
• Anthony Macdonald
• Joyce Moullakis

Air New Zealand could increase earnings per share by 10 per cent if it uses its cash windfall to buyback shares.
That's the view of Macquarie analysts, who ran the numbers on a buyback following Air NZ's sale of a 19.98 per cent stake in Virgin Australia.
"The key question will be around the state of the balance sheet, with gearing ~50% for the next few years," Macquarie told clients on Tuesday morning.
"However we note that AIR has effectively banked capex (~3 years) with an average fleet at ~6.2 years by FY19 (global average today = 9.9 years).

"AIR believes that maintenance capex is around $250m p.a. vs. the ~$1b of capex they are spending at present to improve the fleet, meaning significant free cash flow would be available following this investment period to reduce gearing and provide flexibility for change in operating environment."
UBS analysts reckon Air NZ should use a 25¢ a share special dividend to return the proceeds.
UBS told clients that the special dividend should happen before the end of August, following Virgin's capital structure review, which would also see Air NZ's $131 million loan to the Australian airline repaid.
"After both events we believe AIR will most likely return net proceeds from the VAH shareholding sale to its shareholders via special dividend," the analysts told clients.

"While exact timing is difficult to judge, we expect this to occur before the end of August."

[Master98]

I'm picking there'll be a sweetener in form of special divvy especially after they coped big time last year from analysts/brokers for not declaring one on back of big profit. Big question is how much would that likely to be???

I pick 10c special plus 15c final.

[sb9]

I pick 10c special plus 15c final.

I would say that would be a safe bet in my opinion too...

[Master98]

Here it is: (Sorry some of the stuff didn't come across properly)

""

• by
• Sarah Thompson
• Anthony Macdonald
• Joyce Moullakis

Air New Zealand could increase earnings per share by 10 per cent if it uses its cash windfall to buyback shares.
That's the view of Macquarie analysts, who ran the numbers on a buyback following Air NZ's sale of a 19.98 per cent stake in Virgin Australia.
"The key question will be around the state of the balance sheet, with gearing ~50% for the next few years," Macquarie told clients on Tuesday morning.
"However we note that AIR has effectively banked capex (~3 years) with an average fleet at ~6.2 years by FY19 (global average today = 9.9 years).

"AIR believes that maintenance capex is around $250m p.a. vs. the ~$1b of capex they are spending at present to improve the fleet, meaning significant free cash flow would be available following this investment period to reduce gearing and provide flexibility for change in operating environment."
UBS analysts reckon Air NZ should use a 25¢ a share special dividend to return the proceeds.
UBS told clients that the special dividend should happen before the end of August, following Virgin's capital structure review, which would also see Air NZ's $131 million loan to the Australian airline repaid.
"After both events we believe AIR will most likely return net proceeds from the VAH shareholding sale to its shareholders via special dividend," the analysts told clients.

"While exact timing is difficult to judge, we expect this to occur before the end of August."

thanks sb9

[bull....]

Big support at 210 currently, see if that holds first.

interesting all the buyers there I have it broken support at 2.13 so they look likely to get filled I guessing on the way to 2.05

[Beagle]

Here it is: (Sorry some of the stuff didn't come across properly)

""

• by
• Sarah Thompson
• Anthony Macdonald
• Joyce Moullakis

Air New Zealand could increase earnings per share by 10 per cent if it uses its cash windfall to buyback shares.
That's the view of Macquarie analysts, who ran the numbers on a buyback following Air NZ's sale of a 19.98 per cent stake in Virgin Australia.
"The key question will be around the state of the balance sheet, with gearing ~50% for the next few years," Macquarie told clients on Tuesday morning.
"However we note that AIR has effectively banked capex (~3 years) with an average fleet at ~6.2 years by FY19 (global average today = 9.9 years).

"AIR believes that maintenance capex is around $250m p.a. vs. the ~$1b of capex they are spending at present to improve the fleet, meaning significant free cash flow would be available following this investment period to reduce gearing and provide flexibility for change in operating environment."
UBS analysts reckon Air NZ should use a 25¢ a share special dividend to return the proceeds.
UBS told clients that the special dividend should happen before the end of August, following Virgin's capital structure review, which would also see Air NZ's $131 million loan to the Australian airline repaid.
"After both events we believe AIR will most likely return net proceeds from the VAH shareholding sale to its shareholders via special dividend," the analysts told clients.

"While exact timing is difficult to judge, we expect this to occur before the end of August."

We are well positioned...shame about the SP.