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Thread: Ift

  1. #16
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    Decision day!

    Fate of Whenuapai air base still up in the air


    12.12.04
    by Jonathan Milne


    Plans to convert the Whenuapai air base into a second international airport for Auckland will hang in the balance when Cabinet meets tomorrow.

    A Cabinet committee agreed last week that Whenuapai's commercial value as an airport would outweigh any strategic significance it held as a national asset.

    But ministers remain divided on the next step: agreeing to sell the airforce base to Waikatere City Council, which could in turn contract the Defence Force and Wellington Airport-owner Infratil to manage it.

    The solution would allow the airforce to continue using the airfield for the indefinite future, while at the same time allowing Infratil to operate a national and international airport.

    Supporters say it would relieve pressure on Auckland's existing international airport at Mangere, and, in particular, on the congested road links leading from the city.

    But sources say Finance Minister Michael Cullen is wary of being seen in election year to sell off national assets - even if they are being sold to the local authority.

    Ironically, with local MP John Tamihere gone from Cabinet, the airport's biggest champion is Progressives leader Jim Anderton, who left Labour in protest at the privatisation of public assets.

    Cabinet's choices are to either immediately commission a detailed proposal of how the airport sale proposal would work, or to put it in the "too-hard" basket till after the election.

    - THE HERALD ON SUNDAY
    Toddy

  2. #17
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    CAM: yes, but you can't shag her.

  3. #18
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    Air NZ arn't interested and without their support it's a no goer. They have to stay at AIA because their Star alliance requires them to be at the same port as their other cariers. Secondary ports are for VBA's. Other airlines in the Air NZ group will fall into line.
    Pac Blue will not be able to make it work on their own due to the quarantine, customs and immigration requirements.

  4. #19
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    Now the "No Go" decision is out, lets see what happens to shareprice tomorrow. My guess is that impact won't be much.

  5. #20
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    Agree Kura, it may even have a positive impact on the shareprice.

    IFT and it's share holders were always going to carry the risk for this one on behalf of the Auckland public.

    Toddy

  6. #21
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    Now lets hope IFT does what they should have done in the first place and invest in Hamilton airport. Make Hamilton is the centre of international air freight,the big future earner.
    digger

  7. #22
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    No curfew at AIA ... why won't it be used for freight , closer to customers than Hamilton.

    Disc: AIA holder
    nelehdine

  8. #23
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    What the Govt has actually said is that they do not need to make a 'sell' decision on the Whenuapai land just yet due to the Defence Force occupying the site for a number of years to come.
    They also said that there is no reason why a deal cannot be struck with the Defence Force to fly commercial planes in and out of Whenuapai.

    This 'no decision' was not what IFT wanted but they can work with the offer to enter into discussions with the Defence Force for use of the Airport.

    So, the Govt gets to keep its nose clean and IFT gets an opportuity to proceed with it's plans to commercialise Whenuapai.
    It will be interesting to read the press over the coming days to see what develops.

    Odds 40/60
    Toddy

  9. #24
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    This will please the locals - the land could be used for other uses like a 'prison'.
    Toddy

  10. #25
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    If the Govt/Air NZ stop this from proceeding in any shape, Infratil will simply move on into Eastern Europe and pick up another European airport on the cheap & set up shop, it's what they do best, give them another 12 months and Glasgow will be performing to budget at least.

    Infratil is likely to be a $3.75 share within 3 months & am thinking about converting my warrants.

    A popular pick in the NZX 2005 comp too!
    Disc holding - GOR, IGO, JAT, LYC, MEP, SES

  11. #26
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    Shasta

    Like your logic about IFT moving on and increasing value in other pars of the globe. That part i see reason ,but how do you get to converting the warrents. Surely you must mean sell the warrants and buy heads. Even then the directors are going in the direction of selling heads and buying warrants.
    Ift will continue to be a success story. In 3.5 years IFT has gone up 3.5 times. Can't complain about that.
    digger

  12. #27
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    quote:Originally posted by shasta



    Infratil is likely to be a $3.75 share within 3 months & am thinking about converting my warrants.

    What the ****, are you mad!!!!

    Rather than converting your warrants you can sell them on market now for 70 odd cents each. Then use this 70 cents to buy some shares at 3.35. Saves you 85 cents per share.

  13. #28
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    Decided that IFT was a good stock for 2005 with good prospects in the long term and less potential downside than some. So after having chosen it as one of my five picks for the competition I have also dipped my paw into the shareholder pool and bought an initial holding.

    Now, about that $3-75 within 3months... [^]
    om mani peme hum

  14. #29
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    PT

    Welcome aboard.
    The B warrants represent great value at 80 odd cents with a strike price of $3.50 in June 2009.

    Toddy

  15. #30
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    IFT is my best investment ever,GEN is my worst. Strange how suddenly in the last two months the warrants are now seen at 80 odd cents as great value. I bought 180000 at 54 cents shortly after listing and at the time we had top advise saying they should be only worth 35 cents.
    This co needlessly drifted back after the Whenuapai fiasco.Personally i think they would be better off putting their effort into existing airports rather than the 200 year permits needed to start up another. IFT has a lot without worring about Whenuapai.
    To conclude at the moment i think the warrants and the heads are about in fair comparative relative value.
    I hold this stock and it is also in my 5 picks for 2005.
    digger

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