http://www.stuff.co.nz/business/indu...2-million-loan
There is our dividend
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http://www.stuff.co.nz/business/indu...2-million-loan
There is our dividend
Meanwhile, the market seems to have shrugged off the quick sell down and is now at intra day high. Nice bullish sign.
That's it...there's our special divvy gone right down the **** hole that is AIR investing in Australian airlines...not happy, electric cars that don't give a decent return on capital, now our special divvy gone for a burton...what's next, AIR investing $50m in new uniforms that trap staff carbon emissions ? I'm very annoyed, sold 2/3 rd's of my holding now and yet the SP goes up...go figure ????????
Don't say that Warren Buffett didn't warn the world about investing in airlines! Trading is a different matter, of course.
;)
In case people think I am kidding about there goes our special divvy, I'm not. Fact is AIR's gearing was close to the top of their 55% self imposed limit as at 31 December 2015, within about 1.5% of that if I remember correctly and with big ongoing capex this calendar year this investment in Virgin really has dramatically diminished our chances of a special divvy this year. Not impossible but now looking unlikely. Have to admit with all my work on this company I never saw this coming. Love these sort of surprises :eek2:
Agreed. Stingy final last year too. Really if Virgin can't stand on its own two feet in the current low oil price environment then...
Only consolation I take from this is that all the other well respected airlines that are shareholders in VAH are also contributing, so maybe seeing as they all see merit in it, its not quite the Ansett black hole we think it could be ?
I'm still very grumpy though...hate seeing my special dividend sailing off to some foreign shores, down some deep dark black hole it might never come out of again :(:(:(
And yet the SP tracks higher on this news...bizarre ????????