"airline industry is absolutely bonkers"
and AUS flight booking industry shares also up on terrible numbers. Surely delta has pushed this sector out 12 months and hopefully no more rogue variants?
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"airline industry is absolutely bonkers"
and AUS flight booking industry shares also up on terrible numbers. Surely delta has pushed this sector out 12 months and hopefully no more rogue variants?
Well there are some DIV questions for MR B over on WHS which might give investors more hope..
While wishing to return to europe next july i felt that this year in NZ was the best year for freedom of movement likely for a while.
Unfortunately the experts are now voicing this view.
https://www.stuff.co.nz/national/pol...cted-next-year
Perhaps it will be 2023 before travel back to europe complete with PPE kit when out and about and avoiding crowds...
Means while of course for some of us money tide up in europe on accommodation is another year of write offs..
Would have been better to have bought apartments after all. At least they could have been rented out!
While strategic/other seasons for it, that airfreight subsidy is huge for Air NZ.
Cargo up 71%, $333m of revenue from the govt.
Take that out and the pupply looks even sicker.
Ironically, the government also gives a subsidy to other airlines in the NZ market who then take market share off Air NZ. The other carriers are often getting propped up by their own governments meaning the double dipping allows them to undercut Air NZ's pricing.
On the same routes? With the same feeder network?
On the same routes.
Government support for the transport sector | Ministry of Transport and click "Maintaining International Air Connectivity Scheme"
Subsidies for all of the below airlines/routes, while Air NZ also fly into the same market:
China Southern into Guangzhou
China Airlines into Taipei
Cathay Pacific into Hong Kong
Korean Air into Seoul
And that list excludes the fact that China Airlines can connect into the other Asian markets where Air NZ fly (Shanghai, Guangzhou, Tokyo)
I believe the issue is a lot of medicines come from that part of the world and its no good trying to sea freight them :eek2:
SP still not showing too much forward collateral damage
perhaps the hard landing is still to come when the clouds clear ? ;)
The longer this goes on the harder it'll be for AIR to hold on to talents too. The $1,000 share incentive is a nice gesture but too little too late imo. And with the borders still closed there will be even less reason to stick with a company that can't offer any perks.
The amount of IP running out the door to market rates is staggering. It's a complex domain and loosing all that knowledge in peoples heads. Because of PR optics staff aren't being paid market rates as a good portion of the packages was based on bonus's and they are running out the door and have been for 18 months now. People not only don't want to work at AIR due to the $ but also because its future is an unknown quantity. In order to back fill these open positions IBM have been engaged for some time to 'consult'. I simply can't see how its more economic to 'employ' a consultant to do the same job at 2x or 3x the rate of a local employee (or freelancer). And there are a lot of them
Given talent acquisition is difficult or impossible, there's probably not a lot of choice right now.
There are also numerous cost and tax advantages in contract labour over hiring employees. It's not a clear-cut choice based solely on the rate. While 2x or 3x can look expensive, there are numerous hidden and very expensive costs when employing staff.
From my experience, AIR are sharp negotiators with these types of contracts.
The market looks a bit strange - many NZX Listings down today .. meanwhile AIR SP goes up .. ;)
Are the Cleaners & Janitors being paid to buy a few, or just topping up to a marketable parcel
that the brokers will accept, so they can dump them all in a hurry .. ? ;)