The way the NZX is currently operating it's not going to matter. Lol
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I think the market will like the Look Through Covid Adjusted Normalised Operating Profit of $224m
Nothing else matters
http://nzx-prod-s7fsd7f98s.s3-websit...759/329436.pdf
When is the big capital raise coming? Must be soon... gearing at nearly 70%, still burning hundreds of millions each quarter... and only have a little bit over a few hundred million left in the bank (before having to borrow on that extremely expensive shark loan from the government).
But you're right winner - the current ridiculously high share price says it all - nothing at all matters, the story is strong with Air NZ
Telling for me is $1.1B in funds left...... (including govt facility). So actually $200m left and going to be dipping into it soon. Unless they do a CR.
With cash of only around $200m and burning through $ 175m per month in recent months but forecasting to get that down to $65-85m, we can assume they run out of cash in about 2 months, without a capital raise or Government loan. A decision surely is looming on the CR.
"Short-term liquidity as at 25 August 2020 was approximately $1.1 billion, made up of cash and the $900 million standby loan facility from the New Zealand Government. Due to the strong cash position pre-Covid-19, swift action taken by management to reduce cash burn and a better than expected return of domestic demand after the initial lockdown was lifted in New Zealand, the airline has not yet utilised the standby loan facility. However, it expects to start drawing on these funds in the coming days."
Looks like they already have run out of cash.
Wow just $200 M left at the end of June. Burnt through $85 M of that in July & another $85 M in August, no wonder needing to draw down of that govt loan within days.