AIR - Air NZ.

[percy]

Probably a share that is better understood by studying the woods rather than the trees.

Spot on.!! ..lol.

[workingdad]

Well 244.000 shares traded with VWAP of 2.11. Its a better start than I expected but let's see if it holds

[Baa_Baa]

Load of the proverbial that so called correlation anyway

Last 3 months XAL down a tad but AIR down 25%

Maybe XAL trying to catch up?

https://au.finance.yahoo.com/q/bc?t=...IR.NZ%2C+&ql=1

You obfuscating the point, the correlation is not in terms of 'percentage' it is simply in terms of 'direction' (which is currently down) and $XAL is a leading indicator when there is correlation. You're right though, $XAL fell further overnight and broke down through medium term support, next supports at the Feb levels.

The reason $XAL has relevance is that large offshore holders of AIR are likely to also invest in other airlines (within the Airlines Index) and this influences decisions about portfolio weightings to the sector and in turn flows into buy/sell decisions on individual airline stocks.

[Beagle]

You obfuscating the point, the correlation is not in terms of 'percentage' it is simply in terms of 'direction' (which is currently down) and $XAL is a leading indicator when there is correlation. You're right though, $XAL fell further overnight and broke down through medium term support, next supports at the Feb levels.

The reason $XAL has relevance is that large offshore holders of AIR are likely to also invest in other airlines (within the Airlines Index) and this influences decisions about portfolio weightings to the sector and in turn flows into buy/sell decisions on individual airline stocks.

I think you make a good point but any good sheep might like to consider that many of the airlines that make up that index are trading at quite interesting multiples to NTA compared to AIR. Have a look at Delta and American Airlines for instance and you might get quite a big surprise. I might have mentioned once or twice before that AIR have bought back their own shares before in years gone by when they trade at a meaningful discount to NTA.

[skid]

I think we need to get ''Brexit'' out of the way before there will be any major traction--everyones a bit spooked atm

[sb9]

Air New Zealand to Participate in Virgin Rights Issue...

https://nzx.com/companies/AIR/announcements/284089

[Xerof]

yes, but the 'to the extent....' bits are of relevance

[Beagle]

http://www.asx.com.au/asxpdf/2016061...0yk1nv8twt.pdf

Interesting points. Issue at 21 cps is at a very serious discount to current SP and NTA which are basically in line with each other at 29-30 cps.
Issue amount is as much as I originally expected, I said many pages back that the amount of the shareholder loans circa $450m, they really needed to get double that amount in new capital to get back to a sensible debt equity ratio of about 2:1.
Shareholder loans to be repaid.
This issue doesn't exactly put their balance sheet into a truly robust position, 2:1 debt equity is obviously far weaker than 1:1 debt equity AIR enjoy and obviously AIR are currently highly profitable whereas VAH are struggling to break even.

Executive Summary: Subject to regulatory approval's I am glad AIR are out of this pup, glad the shareholder loans are being repaid and expect AIR to continue with their very modest shareholding of circa 2.5% as a way of maintaining their code sharing arrangements with VAH which that airline needs even more than AIR needs it, classic symbiotic relationship if ever there was one.

[workingdad]

http://www.asx.com.au/asxpdf/2016061...0yk1nv8twt.pdf

Interesting points. Issue at 21 cps is at a very serious discount to current SP and NTA which are basically in line with each other at 29-30 cps.
Issue amount is as much as I originally expected, I said many pages back that the amount of the shareholder loans circa $450m, they really needed to get double that amount in new capital to get back to a sensible debt equity ratio of about 2:1.
Shareholder loans to be repaid.
This issue doesn't exactly put their balance sheet into a truly robust position, 2:1 debt equity is obviously far weaker than 1:1 debt equity AIR enjoy and obviously AIR are currently highly profitable whereas VAH are struggling to break even.

Executive Summary: Subject to regulatory approval's I am glad AIR are out of this pup, glad the shareholder loans are being repaid and expect AIR to continue with their very modest shareholding of circa 2.5% as a way of maintaining their code sharing arrangements with VAH which that airline needs even more than AIR needs it, classic symbiotic relationship if ever there was one.

Looks like this VAH played out very well for AIR after all. Selling VAH for 33c AU and now buying 1 for 1 share at 21c, nice one and market sellers seem to be drying up a bit since announcements.

[bull....]

Looks like this VAH played out very well for AIR after all. Selling VAH for 33c AU and now buying 1 for 1 share at 21c, nice one and market sellers seem to be drying up a bit since announcements.

didn't play out for air well at all they lost 100s millions