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Thread: AIR - Air NZ.

  1. #11
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    rmbbrave

    Have to disagree about the delusions of grandeur comment that led to the Ansett disaster.

    The history is quite different, and it is more about a NZ company being screwed by politicians in Australia. One minute they had an open-skys policy; the next they didn't.

    Under the conditions of the time what Air New Zealand where trying to do was sound strategy.

    We can all get it right with the benefit and accuracy of hindsight.

  2. #12
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    20m brought them the 2 years required to recover, rather than have Qantas finish them off. Probably 20m well spent......

  3. #13
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    THE KING says when the stock hite $1 ,, Buy till your pants fall off..[V][V][V]

  4. #14
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    Well the upcoming rights issue might give you cheap entry. I suspect it will be renoucable, tradable and the govt will take to oportunity to reduce it's holding...

    http://www.stuff.co.nz/stuff/0,2106,3039709a13,00.html


  5. #15
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    For you techies - Air NZ has support @ around $1.80 (todays close.)

  6. #16
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    Surely at pre-consolidation price of 36c (180)
    its worth looking at more closely.

    I guess ppl are just waiting till after the rights issue
    “If you're worried about falling off the bike, you’d never get on.”

  7. #17
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    Lingering doubts weigh on Air NZ share price

    22.09.2004
    By CHRIS DANIELS
    A looming rights issue and few clues on future profits are not likely to help the sharemarket regain confidence in Air New Zealand following the demise of its attempted alliance with Qantas.

    The airline's shares dropped 4c to $1.86 yesterday, the first full day's trading since the High Court at Auckland rejected its appeal against the Commerce Commission's rejection of the deal.

    Both airlines say that although they cannot join forces as they had hoped, they will work on new ways of cooperating.

    The prospect of a "doomsday scenario", where Qantas would destroy Air NZ, has now diminished and Air NZ's financial health has improved in the two years it has been arguing for the deal.

    Stephen Walker, of Walker Capital Management, which has previously invested in Air NZ but now owns none of its shares, said he thought the airline was over-valued - worth around $1.30 rather than $1.80.

    "We can see absolutely no value in Air NZ at the moment," he said. "The present share price assumes it's going to earn good returns on capital and continue to do so for some time - which are at odds with what we expect and at odds with what Air NZ has been telling the Commerce Commission for some time."

    Peter Sigley, airline analyst at Goldman Sachs JB Were, said the single biggest outcome for Air NZ was that this "disaster scenario" of Qantas destroying it was now gone.

    Genuine opportunities for co-operation would exist, and would save costs without attracting the ire of competition regulators.

    Now the alliance is buried, Air NZ is likely to activate its longstanding plans for a rights issue, expected to raise up to $200 million, with up to $150 million underwritten by the Government.

    Details of this issue could be announced at next month's annual shareholders meeting.

    Sigley said the Air NZ share price was cheap, but assurance was needed for future earnings.

  8. #18
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    Did I miss something? Did AIR have a share consolidation?

  9. #19
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    quote:Originally posted by thereslifeafter87

    Did I miss something? Did AIR have a share consolidation?
    At the end of trade on 23 august 2004 a 5:1 share consoldation took place. It was announced in advance and several posts on ST mentioned it before hand.

    Welcome back to the present
    om mani peme hum

  10. #20
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    Paper tiger,
    sorry for sounding stupid, its just I don't generally follow inferior companies with large market caps operating in commodity industries :-).

    Interesting to see the capital growth gained from AIR over the last year or so :-) hmmmmmmmm equivalent pre consolidation SP of about 36 cents. How many people showing positive returns on AIR? weren't they trading at about 50 cents a little while ago?

    When will people learn that small is beautiful, and that it is never a good idea to invest in airlines? :-)





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