There are tens of thousands of more worthy reciprients of a Jones rescue grant to help them survive & continue in existence - where it could be most beneficial .. and yet he wastes his time slugging AIR .. exactly what planet is SJ on ? ;)
Printable View
If the market is correct, then AIR is no where near the dire situation that is being made out by the company itself, the media and others.
Something doesn’t add up.
See below. Didn’t include quote
I don’t necessarily think it is but multiple millions of dollars of shares being bought and a share price of $1.25 ish would indicate something.
Yes, someone was selling but the share price went from 80c then doubled before settling down a bit to where it is now.
Multimillions of dollars say someone - many people - have confidence in the company.
Air probably get about another $40-45m by my calculations from the 8 week extension to the wage subsidy scheme announced in the budget today as their business is definitely down by more than 50% ! That's good, should push the date by which they have to recapitalise the company out by a week or so. Budget provisions for an extra $400m to promote tourism locally is probably straight down a rat hole or three as you're either brave enough (and have the spare financial resources), to fly with their so called on board social distancing or you aren't / won't.
I’m with you biker, seems odd. Personally I won’t fly anywhere soon. And will take a fair bit of care with any tourism we undertake. Just can’t see how AIR survives on domestic tourism. As you said...something doesn’t add up.
I sold out a solid loss...watching with a macabre interest to see if I made a mistake or not.
Tourism isn't going back to anything like it was for many years. Iceland's Govt taking the correct, (and VERY different) approach in my opinion.
https://grapevine.is/news/2020/05/11...om-bankruptcy/ (Thanks to Iceman for sending me the link)
Watching this with interest. Expecting more tourism announcements next week. Kelvin Davis has had a poor run of media, and feel they need to regain his credibility within the industry and public quickly with a election right around the corner.
I expect Air NZ to rise to mid 1.30s next week.
For the record :
Air NZ has contributed billions of dollars in taxes, direct and indirect (PAYE, GST), and dividends to NZ since it was effectively 'privatized' at bargain basement price of 27c ps or $850m in 2000.
Since that time, NZ government has received $1.453 billion in dividends, sold down 20% back to the public for $365m in 2013, and currently holds 52% worth $583m.
And the current bailout is a loan which has to be repaid.
https://www.nbr.co.nz/article/air-nz...mates-b-189318
https://www.nzherald.co.nz/business/...ectid=12331941
That is why the Iceland approach posted over-page and reproduced here is the correct one. https://grapevine.is/news/2020/05/11...om-bankruptcy/