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Thread: AIR NZ

  1. #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.”

  2. #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.

  3. #18
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    Did I miss something? Did AIR have a share consolidation?

  4. #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
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  5. #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? :-)





  6. #21
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    Don't touch it until it gets carved to pieces by a rights issue, which it will . It should present a great oppurtunity during rights trading. It went through a similar phase in the early 90's and it was a very profitable exercise.

  7. #22
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    I have said it before and I will say it again [in differt words].

    Playing with Air New Zealand stocks is for the brave and the foolhardy only. The risks are high and the rewards low.
    om mani peme hum

  8. #23
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    So Singapore selling out.... and a book build that will see institutions sell out over time, no doubt.

    Can't really see this as good for the company especially as Singapore/Qantas now going to be stronger.... still, we have gotten close to the ragheads at Emirates [:0]

  9. #24
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    Air New Zealand has requested a trading halt in its share trading after Singapore Airlines said it was selling its 6.5 per cent stake in the Government-controlled airline by way of a bookbuild tender.

    The trading halt will remain in place until 10am Wednesday or earlier if the bookbuild is completed sooner. So-called bookbuilds allow financial institutions to bid for quantities of stock at different prices before a final price is set based on the bids.

    Air NZ shares closed on Monday at $1.68, having trading between $1.64 and $2.70 in the last year, adjusting for the share consolidation.

    Singapore (SIA) has had an extremely bumpy ride on Air NZ's share register and at the time of Air NZ's virtual collapse in September 2001, it owned a quarter of the company. It was mainly interested in Air NZ's stake in then Australian number two airline Ansett Australia, but that airline's collapse in 2001 precipitated big problems at the parent airline. SIA lost hundreds of millions of dollars on its investment as its stake in Air NZ was reduced to 5.5 per cent from 25 per cent by the Government's $885 million bailout in 2001.

    SIA may still be keen on exposure to Australia and the decision of British Airways to sell its 18.25 per cent stake in Qantas may be the opening the giant Singapore airline may be wanting. Air NZ is seen as less attractive to SIA, with regulators and courts rejecting an alliance between Qantas and Air NZ, whereby Qantas would have owned 22.5 per cent of Air NZ

  10. #25
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    THE KING says this is not a GOOD sign for AIR not many large shareholders left to hold up the price , But what was noted that inside trading in NZ is live and well see how the s/price fell so fast to $1.64 for NO reason untill now thats how it WORKS.. [^]

  11. #26
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    quote:Originally posted by THE KING

    THE KING says this is not a GOOD sign for AIR not many large shareholders left to hold up the price , But what was noted that inside trading in NZ is live and well see how the s/price fell so fast to $1.64 for NO reason untill now thats how it WORKS.. [^]
    You gotta wonder sometimes dont ya.

  12. #27
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    Who thinks that the shareprice will be back below $1 by christmas???
    Death will be reality, Life is just an illusion.

  13. #28
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    Here's another cloud on the horizon. AIR are one of only 2 confirmed buyers for the new Boeing 7E7. Airbus has now announced it will produce a rival 250-seat twin-aisle widebody based on its existing A330. Boeing is doing its best to shoot it down. The question is, will AIR be left with a dud on its hands?
    Marriage isn't a word. It's a sentence

  14. #29
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    Hey Placebo,
    do you have a link for a story about the new Airbus plane? Not that I'm a plane spotter or anything. Just interested.
    Thanks,
    Morpheus

  15. #30
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    Hi Morpheus
    Here is the link for your info. http://www.nzherald.co.nz/storydispl...toryid=3597294
    Your candle loses nothing when it lights another." (John Maxwell)
    Risk comes from not knowing what you are doing - The Tao of Warren Buffett

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