Hoping for little turbulence and a following wind
I pay Air New Zealand so little attention that I had not even bothered to read the financial results for a number of years.
But given the rave reviews that they have been getting here of late I thought I ought to be open to giving the accounts a quick once over.
So did you know that there was a big jump in 'interesting bearing liabilities' during FY2015?
So did you know that, cumulatively, over the last six years (FY2010 to FY2015) AIR have spent slightly more on capital investments (planes etc) than they received from operations (moving people on planes)?
and they currently say that they will spend another $2.6B on planes and things over the next four years.
Still definitely not an investment for me.
Best Wishes
Paper Tiger