AIR - Air NZ.

**Oliver Mander** · 21-11-2017, 10:16 AM

Originally Posted by Beagle

Agreed. Pleasing to note RPK YTD excluding currency factors increased from +2.1% last month to +2.8% this month. Gives grounds to support management's optimism expressed at the recent annual meeting. Also pleasing is their fuel hedge position which is currently just over $USD29m in the money. Its never a good thing to see oil prices going up like lately, (but as long as yields increase, which they are, that's fine) and they have good level's of hedges in place worth over $42m Kiwi net of costs.

Business appears to be in good shape. Newly configured brand new Dreamliner starts services to Houston in December. Also announced so many different awards that I lost count.

The stats and hedge update show the resilience of the business; good to see in a world where oil costs are likely to rise over the next few years.
Still not sure whether there's a "step change" disconnect between oil price and airline value, but stats like this help!

**brend** · 21-11-2017, 11:24 AM

Originally Posted by Beagle

Also announced so many different awards that I lost count.

because there are so many different awards out there...nothing more than a PR sham. The next award will be from a weetbix box.

**Beagle** · 21-11-2017, 12:41 PM

Originally Posted by brend

because there are so many different awards out there...nothing more than a PR sham. The next award will be from a weetbix box.

I know you're a good guy but I think that's more than a little harsh. Granted there is a wider proliferation of awards these days but some of the awards AIR has been getting are from long standing organizations that have been assessing these sort of things for a very long time. Its not a lucky dip mate, you win these awards by being very good at what you do. http://nzx-prod-s7fsd7f98s.s3-websit...680/270154.pdf

**winner69** · 21-11-2017, 01:17 PM

First month this financial year that long haul revenues been ahead of prior year

That's good

**Snow Leopard** · 21-11-2017, 02:55 PM

Originally Posted by Beagle

....Also pleasing is their fuel hedge position which is currently just over $USD29m in the money. Its never a good thing to see oil prices going up like lately, (but as long as yields increase, which they are, that's fine) and they have good level's of hedges in place worth over $42m Kiwi net of costs....

The more they spend they more they save

.

**couta1** · 21-11-2017, 06:14 PM

Big players playing pass the parcel today.

**Beagle** · 22-11-2017, 09:46 AM

http://www.nzherald.co.nz/business/n...ectid=11946154

Outlook for tourism is very good in my opinion. Lower dollar helps too and fortunately for AIR the vast majority of their fleet modernization was completed when our dollar was stronger. Gross dividend yield at current price provides a (21 / 311.5) / 0.72 = 9.4% return + special(s) in due course when the capex program is finished.

http://www.sharechat.co.nz/article/1...es-leavinghtml
Tourism growth still trucking along strongly.

**Oliver Mander** · 22-11-2017, 05:19 PM

Wonder if this article helps explains Air NZ's late run today...not released to the market here yet, but was obviously issued from the US during their night...

http://www.4-traders.com/AAR-CORP-11...-rep-25547074/