yeah, and what's more worrying to me is that 6 figures band growing wider than revenue can justify :D
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Possible Grant and Cindy conversation.
Grant - Look luv I've run this past every public relations and communications firm in town and there's simply no plausible way we can put enough lipsticks on this pig to make it look like it'll fly.
Cindy - I could loan you some of my lippy if you like ?
Grant - I couldn't do that to you, you need it to keep trying to tell everyone your vaccination program is a success
Cindy - Could we simply admit this thing is a mange infested flea ridden pig and try and con the public into backing it at 25 cents like last time ?
Grant - That's not a vote winner sweetie, doesn't fit with all that other B.S. you've been telling people about being kind. Current shareholders would feel like they're being sold down the river wouldn't they ?
Cindy - I thought the way we arm wrestled that Union rep onto the board that would fix all our problems ?
Grant - Problem is I'm reliably informed the Unions are the ones bleeding this pig dry.
Cindy - The staff are going to have to learn to sink or swim sooner or later aren't they ?
Grant - The problem is precious, we can't find any investment banking firm stupid enough to underwrite the cash issue, the company is such an absolute mess so maybe its more hard times for staff ?
Cindy - Could we float the whole darn thing on Sharsies ?
Grant - Plenty of gullible punters on there for sure love but I don't think many have really deep pockets.
Cindy - Shall we just keep kicking the can down the road and hope its the next Govt's problem ?
Grant - Excellent idea, lets do that, and in the meantime keep plugging them with usurious interest rates on their loan, what could possibly go wrong ?
Cindy - Nothing, and if it does lets just print some more money and it'll be all good.
Grant - Maybe if this thing turns into a complete train wreck we can nick it for cents on the dollar and all comrades will have a stake ?
Cindy - Another idea might be to flick it off to Iwi and call it a treaty settlement ?
Grant- Then Shane Jones and his mates can charge whatever they like for domestic fares and its not our problem !
Cindy - You're a genius, lets do this.
There are a lot of confused night cleaners down the HQ these days. These strange people from Corporate keep telling them "You are an officer and director now. Please sign this little book(Prospectus) for a $1m free payment into your account tonight......No one will sign that prospectus imo without titanium clad govt guarantees.
Also do the numbers NTA will be zero after the 21 result and 22 result. Should have gone into receivership Day 1, axe the employment contracts, the jet leases, the fuel contracts, the jet purchases, the real estate leases, any one want me to stop? And here you have the CEO saying he can see the light at the end of the tunnel every other month. I am sorry but the government's position on borders was pretty obvious. It was obvious outbreaks were going to occur. Yada Yada Yada. I do admit people posting here pretty much understand the issues except for one or two that I suspect were AIR pilots. And no I am still not bitter about not being a line pilot, thanks for asking. Have a great weekend. I might go flying and burn some fuel.
Disc: still short
Have no holdings whatsoever in AIR but the one comment I can make is history sure as heck does repeat. This was one of my very first share purchases as a teenager back in 1990 and as the years piled on years so did the pain until I finally ran screaming from the whole sh*tshow. Anyone buying in here needs their head read.
Disc. Still holding some bitterness from 20 odd years ago 🤣
"holding some bitterness from 20 odd years ago"
your a war zone hardened investor.
Doubt whether current shareholders need save up for a capital raise ....probably won't be invited to donate to the cause