AIR - Air NZ.

[Beagle]

My wife had a flight booked to London via LA. Cancelled and quickly refunded about 6 weeks ago. AIR staff did very well in the circumstances.

Winner got his refund quickly too but that was many weeks ago. Since then they seem to have become obstructive. I guess that's what happens as they start to run out of money. I firmly believe they will require recapitalisation before the end of winter.

Well said RAZ.

[Raz]

Winner got his refund quickly too but that was many weeks ago. Since then they seem to have become obstructive. I guess that's what happens as they start to run out of money. I firmly believe they will require recapitalisation before the end of winter.

Well said RAZ.

Early on they did give refunds for substantial overseas travel, I went in way early with 8 scheduled return flights this year to LAX cancelled.

[Beagle]

Early on they did give refunds for substantial overseas travel, I went in way early with 8 scheduled return flights this year to LAX cancelled.

Bet you're glad to be back in N.Z. mate. Handling the Covid 19 situation just "a little" better than the US Might be quite a while before you get to drive your BMW M5 Competition back in the states. Hope you have something pretty good here to keep you amused.

[thedrunkfish]

Self entitled to expect the basic ideals of the fair trading act to apply.

This company was never a shining star..Chinesekiwi sets out just one of these lovely management & union maneuverings and any long time customer knows the experience has been deteriorating for years pre covid-19.

If you haven't notice thousands of talented and hard working people have had their lives turned upside down right throughout the country, many with in essence no income while in AIR we have staff employed in a company with no work for them and no ability to afford. Except from Government support. Basically many cases of six figure by proxi wage subsidy. I pay six figures in tax and this is what it is wasted on.

Oh well i guess you lads will be voting with your dollar and not traveling AIR ever again then.

[Stranger_Danger]

Oh well i guess you lads will be voting with your dollar and not traveling AIR ever again then.

Long term, who knows? I suspect the chances of flying Comrade Airlines, with a picture of Dearest Leader as the new logo, are not nil.

[Balance]

I put it to you that your post is anecdotal and opinionated without fact.

Your the one who sounds self entitled. The entire company has gone from a shining star to a shambles through no fault of its own. Sorry if you freinds didn't get a timely refund my heart bleeds but thousands of talented and hard working people have had their lives turned upside down through no wrong doing and I won't agree with someone slandering their reputation because of a single source report of poor service.

Agree with you wholeheartedly, thedrunkfish.

https://www.stuff.co.nz/travel/news/...the-year-award

"AirlineRatings.com editor-in-chief Geoffrey Thomas said New Zealand's national carrier topped nearly every category this year, saying it "punches well above its weight" and "is the industry's leading benchmark".

As to the government losing out on Air NZ, the company has paid $1.453b in dividends and over $1.6b in taxes to the NZ government since it was bailed out (due to unquestionably gross mismanaged and skulduggery by the Ozzies) in 2000. Not bad for a $850m investment which has been reduced to $485m due to the partial selldown in 2013.

[RTM]

Agree with you wholeheartedly, thedrunkfish.

https://www.stuff.co.nz/travel/news/...the-year-award

"AirlineRatings.com editor-in-chief Geoffrey Thomas said New Zealand's national carrier topped nearly every category this year, saying it "punches well above its weight" and "is the industry's leading benchmark".

As to the government losing out on Air NZ, the company has paid $1.453b in dividends and over $1.6b in taxes to the NZ government since it was bailed out (due to unquestionably gross mismanaged and skulduggery by the Ozzies) in 2000. Not bad for a $850m investment which has been reduced to $485m due to the partial selldown in 2013.

Wasn't so long ago that the Beagle was waxing lyrical about Air New Zealand, the economies of a new fuel efficient fleet, less CAPEX looking forward, management etc etc. You've really got to understand about the personalities of posters before you factor in their "advice" to your decisions. Guess that applies to us all !

[Beagle]

Interesting BlackPeter. Admit that I've just provided one of those "buying opportunities" - I sold out of AIR yesterday. Have held for ages, but I remember the impact of the SAARS, and thought it was better to be prepared for the downside. Suspect the cash will end up in the Finance sector...more specifically the HGH sector :-)!

I've done the same. Sold all my AIR shares a couple of days ago and very likely to end up in the same place as yours, despite HGH being 21.5% of my NZX portfolio already.

I posted a couple of weeks back I saw AIR as primarily a yield stock with little prospect for capital gain. At that time if I remember correctly the price was in the mid - late 280's. I think in the late 290's now with recent developments some caution is warranted and I see some modest potential downside risk from here so as a capital preservation measure I also liquidated my small position today. It will be interesting to see how Greg Foran gets on with the unions given his reputation for cost cutting. I'll watch from the sidelines for a while.

Wasn't so long ago that the Beagle was waxing lyrical about Air New Zealand, the economies of a new fuel efficient fleet, less CAPEX looking forward, management etc etc. You've really got to understand about the personalities of posters before you factor in their "advice" to your decisions. Guess that applies to us all !

Above posts are from late January 2020 when the smart money got out at close to $3. Crikey mate, you think things might have changed just a "little bit" with Covid 19 ?
I think the people noted above can allow themselves a small pat on the back as it took until April 2020 for the legend Warren Buffet to wake up and smell the coffee !
I'm disappointed with your post, that's a pretty cheap shot. All anyone can do is call it as they see it and when business conditions change dramatically take the appropriate action in a timely manner to preserve their capital. Those who didn't take action in a timely manner suffered the consequences, including Warren Buffet !

[Raz]

Oh well i guess you lads will be voting with your dollar and not traveling AIR ever again then.

Thats the other fun fact, during normal times they have a monopoly on a good number of sectors, where they have serious competition they have bailed. i.e London route

Protected people at the expenses of the tax payers and customers..except for the health professionals can't think of any larger higher paid group. Most lost protection through the deregulation, that was over 30 years ago..time to jump into the real world.

On the overall tax contribution..who pays for that unless financial engineered..yes the customer.

[Beagle]

Thats the other fun fact, during normal times they have a monopoly on a good number of sectors, where they have serious competition they have bailed. i.e London route

Protected people at the expenses of the tax payers and customers..except for the health professionals can't think of any larger higher paid group. Most lost protection through the deregulation, that was over 30 years ago..time to jump into the real world.

On the overall tax contribution..who pays for that unless financial engineered..yes the customer.

Some airlines have scrapped their entire 777 and others their A380 fleet. Scrapping all 777's would be a good way to extricate the company from legacy elite payment contracts where pilots earn around $500K a year. 777's probably as good as useless for years anyway.