Just over 1 year ago.
Same thinking and outlook hold true. Personally, I kept averaging down during the drop / free fall when the sky was caving in due to all the increased competition (international flights to/from NZ) and perceived impact.
With the Chief Digital officer well now with > 1 year at AIR.... I'm anticipating some new and targeted digital offerings in the wings.... Who knows.. Bag tracking? More retail integration in-flight? Check in, weight calculation, x-ray all by walking through/across something with biometrics? etc
http://www.businessinsider.com/sc/fa...ion/?r=AU&IR=T
http://fantasy.co/legacy/fi-airlines/
Looking ahead, per many of Roger's insights, future earnings, PE, yield, reduced debt/leverage - returns look great to me over 5 year span.
Risk..... ? I have been wondering, at what stage does NZ population and domestic travel start to become big enough to sustain a 3rd operator .... the point being 'sustain' as we've seen lessons from the past. Population of 5m, 7m, 10m?
Ever wonder why NZ Profits so super-high?.. they are able to
price-set really really well, particularly domestically. The pricing regime on their website is so tuned to making available each seat at highest price point possible - target highest use of day to limit low price sets, yet hook us in with low cost marketing for the few seats.... coupled with the loyalty airpoints which must be by now their greatest 'asset' (2.4m account holders driving 78% of their sales/service interactions).... which makes us all feel great to move up the tiers and we feel so rewarded... yet we're paying 2 times, 5 times, 10 times for it. Hats off to them for being so astute IMO.