french lesson from Mr B....thanks..
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french lesson from Mr B....thanks..
So AIR has already drawn down $350m from the high interest government loan?
And as for the rest of the results, they are terrible, as expected - just crazy how the share price has been kept at hugely elevated levels
...and still sitting on $1.1 billion of 'Revenue in Advance'....ie prepaid fares including all the credits
One day this must hurt them
So $45-55m cash burn going forward for rest of financial year, then they say cash burn will actually increase!! That includes the govt propping up cargo. They say they have used up over $1bil since the start of this. Over the next 12 months say they will use up say $550m based on low estimate (ignoring the signal of an increase) to say $800m using $55m per month and increasing after end of FY. This is insane.
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When the price of a new 787-9 is close to USD$300m these guys really can't even afford to pay for 1 new aircraft. What happens in 2 years when the current fleet is another 2 years(10% of life) down the track. It is impossible to see these guys returning to profit for at least 2 years from now. In that time they will burn over $1bil(ignoring having to refund tickets). How are they proposing to pay for the 8 787-10(circa USD$2.5Bil or NZD$3.5 billion) starting to be delivered next year??? Debt? Yeah go find that funder!
I think they need to raise at least $1.5 Billion in this first tranche and probably another similar amount in 2 years time. Completely uninvest-able for the foreseeable future in my opinion.