AIR - Air NZ.

[Beagle]

Sounds like an Investor holding and not liking it.

Understandably a bit hot under the collar after the shares going down a whopping 24% in just a few weeks when the broader market is down just 6%.

[Beagle]

Keep up the fine work Beagle. If you can talk the price down to NTA of $1.69 that would be a wonderful buying opportunity.

NTA on the direct broking website showing as $1.63. They never accrue the dividend in the accounts so when that 11 cents is paid out shortly the adjusted NTA is going to be $1.52. Personally I'm thinking I want a fairly decent discount to NTA to account for known and unknown risks.

At a 50% discount to NTA, (76 cents) I might be interested. Will never happen I hear shareholders gasp in disbelief ! Those people should check out the share price history of Qantas in January 2014, just 6 years ago, at one point that I recall traded at just $1.02 intraday...or AIR's share price last time they faced a massive challenge of a similar magnitude when in February 2009 in the depth's of the GFC the share price was just 70 cents.

History never repeats...or does it, especially with low margin cyclical airlines ?

[winner69]

They touted they had a billion in cash

I recall they also said that just before the Govt bailed them out

[Beagle]

They touted they had a billion in cash

I recall they also said that just before the Govt bailed them out

I recall exactly that too. The inconvenient truth is its not theirs, prepaid travel in advance is just on $1.4 Billion, some of that yours ?
I forget what price the shares were issued to the Govt on the last bailout, from vague memory was it 25 cents each ?
Don't want to fly anywhere for the foreseeable future so might start spending up large in their airpoints store.

Edit Yeah it was 25 cents each. Some of the cuts the Government made when they bailed out AIR are worth revisiting.
Staff numbers 800-1000 gone, I bet they chose highly paid flight crew and management. 15% pay cuts elsewhere.
Couldn't happen again ? But could it if we all have to go into lockdown for months ?
https://www.wsws.org/en/articles/2001/11/nz-n03.html

[Bjauck]

Sounds like an Investor holding and not liking it.

I know that feeling. I have been lightening my shareholding's gradually over the last couple of years but now I have got holder's remorse over not acting more quickly.

[dreamcatcher]

I know that feeling. I have been lightening my shareholding's gradually over the last couple of years but now I have got holder's remorse over not acting more quickly.

Don't kick yourself, mine are almost all free but this investors complaint was about the constant down-ramping nothing else the SP will go where it goes.

@Beagle is thick skinned and hopefully takes no offense at my yelping.

[Baa_Baa]

Almost 50% retrace of the 2012 low-to-high 2017. A reminder what a cyclical looks like, monthly chart log scale.

[winner69]

Almost 50% retrace of the 2012 low-to-high 2017. A reminder what a cyclical looks like, monthly chart log scale.

Nice chart BaaBaa ....not much ‘noise’ on it is there?

[Baa_Baa]

Nice chart BaaBaa ....not much ‘noise’ on it is there?

Thanks winner, keep it simple eh, its not a GFCII so I'd be surprised if it didn't find support around the .618 or worse the .786 and do a V shaped recovery. So much pessimism and doom around here lately. In any event, good buying ahead, just need to be patient and keep an eye on the chart. This is quickly becoming more about sentiment than fundamental, despite AIR being shafted on all metrics.

[dreamcatcher]

Thanks winner, keep it simple eh, its not a GFCII so I'd be surprised if it didn't find support around the .618 or worse the .786 and do a V shaped recovery. So much pessimism and doom around here lately. In any event, good buying ahead, just need to be patient and keep an eye on the chart. This is quickly becoming more about sentiment than fundamental, despite AIR being shafted on all metrics.

Really nice chart Baa_Baa viewed on 50" screen