And they now deferring capital raise to September
And Shylock reduced interest rates
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And they now deferring capital raise to September
And Shylock reduced interest rates
reads very much like a power play of "you only exist because of us so do what we tell you or else"
also an underlying tone of socialism and not much mention of being a business needing to make a profit - that comes across as secondary to providing a bus service for everyone and their goods and being responsible for everything under the sun and could you please do all that in a capital efficient manner.
Foran must be loving it in socialist NZ! Compare AIR's position to Qantas
delayed capital raise lol
lets make it even bigger so we can repay the govt facility from the capital raise
If you are representative of everyone (I know you won’t be, who knows what it is actually like) and one quarter of transtasman flights is paid for by credits rather than cash, their cash position will worsen by running the flights. Although obviously will see an immediate increase in cash as it is paid up front.
Why would anyone own this share at these prices? Am I missing something?
Its hot Air..
With the timing of the CR getting pushed out further, I get a sneaky feeling that behind the scenes the Govt is being more of a puppet master than it appears to the general populace. The GR letter is just part of the smoke & mirrors show - controlling the public narrative.. Nothing new or inspiring in the letter that the board wouldn't already be patently aware of.
If & when the CR does eventuate don't be surprised to see Govt elect to just convert the drawn down portion of the $ 900M into shares. In essence making the current arrangement a simple CN for the majority s/holder.
Meanwhile the underlying financial issue of a $40-55m per mth cash burn will continue; despite Pacific bubbles.
fingers crossed that parts of Asia will open up next year too, so that the airline can stay afloat until US & Europe is ready for tourist again
none of it really helps the company reach profitability.....
you all seem to be missing the major good news in todays announcement - interest rate on government loan has been significantly reduced:
- New lower interest rate of 3.5% (down from 8%) for the first tranche of $1 Billion (increased from $600 million)
- New lower interest rate of 5% (down from 9%) for the second tranche of $500 million (increased from $300 million)
its just reverted to market rates really tho... so yes a bit less usurious.