not so long ago i got tangled up with a couple of AIR air hostess.. (another story..) they where always told if the plane is over weight, passengers are the first thing to be bumped off, the money is in the freight
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not so long ago i got tangled up with a couple of AIR air hostess.. (another story..) they where always told if the plane is over weight, passengers are the first thing to be bumped off, the money is in the freight
that usually applies to standby passengers only clips, but anyway, tell us about your entanglement - sounds like a much better story :eek2:
Quite right but NTA doesn't seem to be especially relevant to other airlines, closest competitor QAN has an NTA of ~ $1.50, almost the same as AIR and SP over $3.30 last time I looked. Proof that AIR is worth at least $3.00 :D
EPS of 32 cps based on mid point of forecast and forecast divvies of 20 cps is what matters.
Here's a theory for the ardent AIR holders.
Why not switch to VAH? They have a recapitalised balance sheet ( ok, still not fantastic), some 'interesting' shareholders, such a low share price and resilient major shareholders that the downside from these levels ( early to mid 20c) IMO is limited, and similar 'airline' (too many moving parts) risks to AIR.
Also, while QAN are fierce opposition, I would argue VAH don't face the same widespread growing competition that AIR is facing.
Finally, while AIR is mostly out of VAH because they "had better things to do with the money" (i.e. give it to shareholders, and who knows where that pressure came from) it doesn't mean VAH doesn't have a profitable future given time.
OK, no dividends for a long time, but the share price could well compensate for that.
Disc. Bought AIR at 87c when they were well out of favour, and did quite well.
Holding VAH for the turnaround.
Biker
Respect for looking at things from a different angle but I don't share your perpestive. AIR have a very strong domestic franchise which flys around 85% of passenger movements in NZ and that remains very profitable despite Jetstar being on the scene. International is clearly much tougher looking forward and AIR might only break even on that shortly. But VAH still have a poor balance sheet and struggle to make a return even with low oil prices. Glad AIR kicked VAH for touch. It might seem cheap but to me is a value trap. Most large holders are strategic holders rather than return on investment from VAHs operations imho.
They're as different as chalk and cheese for all the reasons that have already been discussed many times at great length.
$2.035 bargain.