The EV's get them some nice press so probably worth it.
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The EV's get them some nice press so probably worth it.
I did this yesterday, and the chart looks VERY different with the latest dividend factored back in. Basically, it hit rock bottom at 2.06 shortly after my entry a few months back, and has since oscillated between there and 2.30. It creates a very different impression to the chart that most of us pore over day after day.... :)
Agree x 3. Would be nice if they got the recognition they deserve for the reasons that really make a difference, (very young fuel efficient fleet).
Yes Oldguy, add back the huge special and the chart looks quite good to me. Clearly trading above the 100 day moving average...not many shares on the NZX 50 are doing that at present, (considering we're still basically in market correction territory ~9% down from Sept).
To create an accurate SP+dividends chart with MA's, trendlines etc that could be used for technical (chart) analysis, all historical dividend data for AIR should be incorporated. To plot dividend adjusted data (divi removed) and then arbitrarily add back in just the last dividend manipulates the data and creates a meaningless chart.
For example using a reference to two datasets that we do know about, if you took the NZX Capital Index for all time and added in only the dividends from all companies at their last reporting date, the resulting chart would be neither a NZX Gross, nor an NZX Capital dataset. I don't know what you would call it, except meaningless.
unless you were only looking at the period since their penultimate dividend payment as I was...
Div Comp - Not ticked:
http://i7.photobucket.com/albums/y26...20161121-U.png
Div Comp - Ticked:
http://i7.photobucket.com/albums/y26...20161121-C.png
Best Wishes
Paper Tiger
I predict 2.03 before Christmas.
Nah, just being silly. Just happy that it's over two.
Big party in Auckland the other night - Sustainable Business Network Awards night
Air NZ won the Renewables Impact section and then -
NZI Greatest Contribution to a Sustainable New Zealand (Supreme Award) Winner – Air New Zealand
Shareholders should feel proud of their company
Press release about that award
http://sustainable.org.nz/wp-content...ds-winners.pdf
Sustainability permeates Air New Zealand’s business from the purchase of fuel efficient aircrafts to recycling and repurposing old uniforms, diversity workplace programmes, identification of Te Reo speakers on board aircraft and environmental programmes to preserve New Zealand’s natural environment. Furthermore, Air New Zealand’s sustainability framework is guided by an international panel of experts that challenge and advise the airline. All the airline's initiatives can be found
anyone else getting nervous about the lack of operating stats???
It was late in month last year
No worries
the last couple were mid-month but August was 22.
Guess I've still got my PEB hat on (where any delay in information is usually a very bad thing...) :scared:
I think that's fair comment. Its certainly got some other companies reconsidering their viewpoint on electric vehicles. Someone had to lead the way so a majority owned airline which is a bit polluter seems like a good natural fit.
Interestingly talking about things that make a real difference, if my memory serves me correctly they'll have nine dreamliners operating for the peak summer season up from six last year and that's a lot for the size of their fleet so their commitment to a fuel efficient fleet deserves the real accolades. You can see the materiality of this clearly in their estimated fuel consumption, (per August 2016 fuel hedging disclosure), estimated fuel consumption IH FY17 4,441,397 barrels, 2H FY17 4,275,793 barrels. I guess getting rid of the old thirsty 767's and replacing them with new aircraft really does make a meaningful difference ! ~166,000 barrels less = 26,400,000 litres less fuel burned..puts their 65,000 litres saved from electric vehicles into perspective doesn't it !
That said my wife and I had a good conversation about electric vehicles last night and agreed that >95% of our trips could be undertaken by a relatively inexpensive near new Nissan Leaf which only cost about $25K.
At the time of the big announcement, (late August) I suggested that any attempt to strip would take considerably longer than normal due to the dividends size.
I also suggested some of the dividend is built into the price in the short period before it goes ex.
Some cunning people were buying AIR at $2.17 in the afternoon of the profit announcement, so how did those divvy hounds do in the period from the end of August to now if they were cunning enough to hold the whole time, (regrettably I wasn't).
First up one must look at the market overall. According to Craigs its down ~ 9% since the peak in early Sept.
All other things being equal then AIR's SP should be down 9% too $2.17 less 9% = $1.97 but the shares are presently at $2.01. How much of this is to do with effective dividend stripping and how much to do with an oversold bounce from a low of $1.73 ex divvy is frankly anyone's guess.
Conclusion, if you timed your buying right at the time of the announcement and held long enough, nearly 3 months you have effectively stripped this gigantean dividend, albeit ameliorated by a general decline in the market, an perhaps a little fortuitously from a slight recovery in sentiment toward the company, but effectively stripped it on NZX50 general decline weighted basis nonetheless.
This is all probably pretty creative accounting, hence the word cheeky in the title :)
Interesting article on Jetstar progress in the NZ regional sector, AIR's patch, reporting that not only are they taking a share of AIR's market but that the overall market is greater, put down to low cost fare options. http://www.stuff.co.nz/business/8674...y-report-finds
Reading it literally word for word, there is only the oblique reference to "rather than simply cannibalising the incumbent's passenger base".
It would be a long bow to draw to think none of those 600,000 additional Jetstar seats had not cannibalised AIR to some extent.
It's good though that the overall market has increased and good for passengers as price competition is taking effect and more flight options.
Propstar was set up because the Aussie domestic part of Jetstar could not sell their Q300 aircraft, so decided to extract the value from them by flying Propstar in the Shaky Isles.
The Stuff article speculates on adding additional routes. Unless good second hand Q300's are available for purchase and deployment I would be doubtfull of Propstars ability to expand the network. Further they are older aircraft comming to the end of their economic life. If they are withdrawn will Propstar buy new aircraft?
Boop boop de do
Marilyn
are we in a trading halt? Market depth on ASB looks weird, with buys at higher prices than sells but not cleared....
Operating stat's are out and are much as expected, sound. Note increased use of dreamliners even on shorter haul routes....they have plenty of shiny new fuel efficient planes to go around now !
Latest fuel hedging is out too with no surprises. Looks like they consumed all their extremely favourable $30 hedges they put on in January 2016 and back to using fuel at the current fairly stable but quite low price. Business as usual. Jokestar having a minimal impact in my opinion.
PaperTiger - revenue growth is? Month and YTD please
Seems to be your task to tell us each month .....most of us are just lazy
Looks pretty good to me those stats
Profit upgrade at 1/2 year i reckon - maybe even to $700m (plus)
Year on Year Cumulative Revenue Comparisons:
Short Haul:
Jul: 99.36%
Aug: 99.26%
Sep: 99.18%
Oct: 99.65%
Long Haul:
Jul: 99.99%
Aug: 98.62%
Sep: 98.07%
Oct: 97.13%
Year on Year October Month Revenue Comparison (Estimate)
Short: 101.06%
Long: 94.30%
Best Wishes
Paper Tiger
https://www.nbr.co.nz/article/migrat...tober-b-197010
Coming in record numbers to visit and stay.
P.S. November 2016 edition of AIR's monthly inflight magazine is showing on the second to last page under fleet stat's they now have 9 dreamliners, confirming my recollection the other day so they're all set to operate all these lovely new fuel efficient aircraft over the busy summer season.
I think the market has been factoring in a 10-20% drop in revenue so these figures are not that bad. I heard a whisper that forward bookings were up 5% on last year for the summer months obviously yield will be down. Historically AIR share price has always climbed NOV thru MAR and I see the same occurring again.
Surely its worth noting the trend with long haul travel people usually book well in advance so the effect of the new players entering the market has not yet been fully felt (this can help explain why long haul load factors continue to decrease month to month).
Question to the floor what load factor does AIR need to make on each of the main long haul routes to break even ?
It depends on the yield of each seat sold. For twenty odd years AIR operated to the UK with high load factors but never made a profit on this route, until CL marketed it as a single trip LAX - LHR and LHR - LAX. Previously it was marketed as a return trip. AIR can break even on low load factors where they have a monopoly on the route. They equally can have full aircraft and run at a loss.
http://www.newshub.co.nz/business/ai...ock-2016100617
Well I feel like a bit of a goose cashing out because of "Trumped up" fears but I'm pleased to be back on board and see I'm in good company with another attractive goose called Dave, although this particular goose is definitly a Kiwi :) Long run I am satisfied they can maintain a 20 cps divvy.
I had anticipated considerably more weakness and never bought back in - still happy with the modest holding I have.
Both flights between Auckland and Brisbane in the last couple of weeks were bursting, the return had code sharing with 5 airlines looking at the flight details and staff were as impressive as always.
Welcome back Roger again, fasten your seat belt and stay in your seat this time. PS-Still cheap buying atm IMO.
I hope holders have had a good read of the latest databook Air just put out, will give you confidence in this well managed, profitable company going forward. Of note is the graph showing projected Capex expenditure over the next few years, look at how low it's projected for 2020-2021, looks like I'm going to have to buy a bigger divvy feeding bowl before then. PS-Almost forgot to mention Air's 5 year total shareholder returns up 183% compared to the NZX50, up 100% and the Bloomberg World Airline Index up a lousy 23%, Buffett needs to do a bit more research about which Airlines he invests in aye.
Great post...must hurry off... the pet store have a special for XXXL dogs looking for bigger food bowl's :D Must admit I haven't read it yet, trying to take a more relaxed approach these days, plenty of time to read when you're on board for the long haul.
Iceman you cheeky bugger, I'm telling Mrs hound on you :)
Come on guys, lighten up its Friday. I'm sure the facts are well laid out in the fact book. Maybe when Buffet's analysts read it...
"Fare" enough mate :)
Interestingly Capex is very light in FY 20 as well and then tails off to almost nothing in FY21. From their conference call at the time of the annual result there is hardly anything in FY22, FY23 and FY24 either.
What will they do with ~ 80 cps in annual free cash flow in all those years ?
Yeap, in FY19 the fleet replacement programme is complete and they'll have one of the youngest fleets of any airline in the world at only 6.2 years average age. You could say shareholders are well positioned :)
On another subject this looks like it might be on shaky ground in more ways than one.
http://www.sharechat.co.nz/article/4...extension.html
"On another subject this looks like it might be on shaky ground in more ways than one."
Yep, we shouldn't even have a city there , let alone talk about extending the airport :p
What is worrying though is what the quakes will cost in tourist numbers hence load factors.
Also , although their yields have dropped around 8% yoy, has anyone managed to understand their fuel hedging reports? I'd love to know what that says about their forward fuel costs.
Welcome to the forum DonqQ
I'm avoiding any property company with significant Chch or Wellington high rise buildings.
I was down in Queenstown shortly after the recent earthquake and nobody seems worried about it. Sure it will have a massive impact on tourism to Kaikoura but beyond that I think the effect on AIR from a demand perspective will be nil, people will simply amend their travel plans within N.Z. to exclude heavily affected area's.
AIR use a system called collars where as the name suggests they basically try and control the cost of their fuel. Going off memory they've basically set themselves up to enjoy relatively inexpensive fuel for the rest of this financial year.
http://business.scoop.co.nz/2016/11/...to-adele-fans/
Air NZ is putting on an extra 80 flights for the Adele concert. What a busy airline!
I've even started thinking about the 2019 World Cup and 2020 Olympics in Japan. Our 787s to Osaka and Tokyo will be packed to the gunwales ('gunnels').
http://www.phrases.org.uk/meanings/f...-gunwales.html
Blackest day in Air New Zealand's history this day 37 years ago
@NZHistory: Today in History 28 Nov 1979, 257 killed in Mt Erebus disaster https://t.co/R9p1jj6Hrr https://t.co/2iSwKGgVft
AKL-LHR-AKL I always seem to get lumbered on those rickety 777's that rattle like nothing else to and from HKG or SNG
At least generally get on decent partner planes for leg to LHR
They've all just recently been refurbished, (or are currently in the process thereof, sorry I forget which), so I would say they'll be looking to get somewhere around 20 years out of them taking their replacement out to mid-late next decade. To far out to try and guess what they might eventually replace them with. Average age as at 30/6/16 was 10.2 years.
Congrats on achieving that milestone Winner69.
Meanwhile on the anniversary of the blackest day in AIR's 76 year history AIR executives award themselves millions of free performance rights. I tried adding all the disclosures up but I got an extreme case of nausea part way through so will leave that "enjoyable" task to someone else...
P.S.Oh I see in a separate disclosure they've summed them up for us 5.961m free performance rights and 367K restricted share rights. Someone please hand me a large sick bag...
Might need to figure out how to monitor this. Those generous 5.96m performance rights vest over three years (+6 months if needed) "... subject to the Company’s share price outperforming a comparison index made up 50:50 between the NZX All Index and the Bloomberg World Airline Index over a three year measurement period from the date of issue"
Gotta keep those execs focused on shareholder value somehow!
:confused:
http://www.sharetrader.co.nz/images/icons/icon1.png
Cant beat the double deckers (a380s) There some decent seats in the upstairs section. They give Nzers old rickerty planes, its always the European leg where the modern planes come in. Ones where the videos actually work.
http://www.4-traders.com/AIR-NEW-ZEA...rier-23460601/
Haven't seen Hoop post for a while but for TA people (even unadjusted for the 25 cps special divvy) its interesting to note the SP now has a break above the 100 day moving average which looks like $2.04.
Fundamentally based on average analyst forecast for FY18, (when all known extra competition will have a full years effect), AIR still trades on a PE of just under 7, compared to a ten year average of about 10.5. I guess those who still hold a negative view, (although being strangely quiet lately), would still be thinking profitability works in multi year trends and profit is headed lower in FY19.
I think that's anyone's guess and its impossible to try and predict profitability in FY19 at this stage. Anyway for what its worth I garner a bit of comfort from the technical's lining up with the fundamental's so added a few more today.
Liking the way the SP is heading... Tempted to get onboard again. Last time was at $2.70, still holding since then
The A380 might not have been profitable for Airbus thus far, but it has however been profitable for airlines where the aircraft have been strategically deployed to routes with very high PAX levels and/or capacity constrained airports. Examples of highly successful A380 routes include DBX-LHR, DBX-BKK, SIN-LHR, and there are many others.
AIR's decision not to purchase an A380 is based purely on their own economics for a relatively small regional airline and is not reflective on the aircraft itself.
That was on the 28th of Feb. A mate has asked me why the s/p has dropped since. My answer is because AIR increased capacity about the same time as competition increased intensely and fares dropped. AIR forecast less profits but still healthy ones(can't find this fig).They also gave one off special div. Also a vey cyclical stock (where are we in the cycle?). Money is being pulled out of NZ back to USA etc.Ive also suggested one more big earthquake and the tourism boom will be over.What else have i missed?.cheers JT
You mentioned the cyclical nature of the share - and given that analysts assume earnings to drop next year and the year after does it make sense for the SP to keep dropping;
Some (too many) of their management are using their share options as ATM machine and sell their shares as fast as they get their hands on them. If they don't believe in the stock - why should the market?
I think everyone was surprised this year by the extent of the new competition coming to N.Z. That said I think that's been fully factored into analysts forecasts for FY17 and FY18.
Looking at FY18 as mentioned earlier we're at a PE of 7 vs a long run average of 10.5, (could make a case for using 11-12 based on ultra low interest rates).
a)Those with a negative bias would probably say that we're still headed lower in cyclical earnings for Fy19 hence the PE discount to long run average.
b)Those with a positive bias would make the case that if they can hit those Fy18 projections with the full force of all the new competition that could be the new cyclical low.
c) And then there's those investors who'd probably say they have no clue one way or the other on Fy19 earnings and they could be either higher or lower than Fy18 with a 50 / 50 probability so on the balance of probabilities AIR is cheap at present due to the fact that it trades at such a meaningful discount to its long run average PE
BP, I think it's sensible for employees to sell their shares as soon as they get them. It means that they are less exposed to the fortunes of the company. They get their salary from the company after all, no point having all their eggs in one basket.
Some poor Pumkin Patch employees probably thought they were doing the right thing by joining the PP share scheme. Honestly, I'd never advise anyone to join a company share plan and if you happen to get some "free" shares from your company, sell them.
Hmm - brave. Not even I would dare to compare AIR on this thread with PPL :p, but yes - I hear what you are saying - and from a "selfish management perspective" do I understand this point of view.
On the other hand - the shareholders of this company don't give their executives additional shares to increase the level of their "overpaid-ness", but to better align management interests with shareholders interests.
If management are however selling their shares as soon as they get them (and are allowed to do so), than they obviously work against the interests of the remaining shareholders, which makes me wonder why a board allows these sort of lolly scrambles for their executives. Maybe the SP tanks because people start realizing that the company is run by a weak, incompetent or selfish board?
A board with any sense would immediately stop this lolly scramble and either cut the freebees for their execs or otherwise arrange for (a adequate) mandatory time for them to hold the shares when they get them. The current schema is just a waste of shareholder funds and contributing to the downtrend.
Is that the downtrend that you predicted would have us to 82 cents by now BP :p
Incentive schemes have to be viewed in the context of international norms in this industry. Mr Luxon's base salary for 2016 was $1.47m, short term incentive $1.617m, (I presume a cash bonus), performance rights valued at $808.5K, restricted share rights valued at $700K and superannuation benefits of $120.4K, source page 62 2016 annual financial results.
He's delivering the results, unlike Virgin. May I suggest you do some research on the package that the CEO gets for Virgin and Qantas before making any more disparaging remarks about the board or management. You are talking about a board who's chairman has received some of the highest accolades to be bestowed on any business leader in N.Z.
Further to my comments in response to JT's post yesterday its worth noting that AIR has paid 45 cents per share in fully imputed dividends this year.
The SP performance this year in my view is as much a function of fear over greed as anything else. The market dislikes uncertainty and its the uncertainty created by significant amounts of new competition on AIR routes and the impact on yield that's caused the SP to drop in my view.
I recommend people read note 19 to the financial statements in full to enhance their understanding of the incentive scheme. Extract,Their is not the heavy dilution some are suggesting.Quote:
during the year ended 30 June 2016 the group funded the purchase on-market of 13,181,727 shares. The shares were used to settle obligations under employee share-based compensation plans.
You either pay them a LOT more in cash or you try and tie key executives in with incentive scheme's to help ensure their continuity of employment, AKA "golden handcuffs". Looks like the board's incentive policies are based on pragmatic commercial factors to me. I still dislike them because a part of me thinks they're excessive but at the end of the day they have to attract and retain key talented staff...we wouldn't want our best people going to Qantas or Virgin would we !
Virgin's annual report including extensive remuneration report on how incentives are measured for those that want to drill down into a comparative analysis of incentive scheme's
http://www.asx.com.au/asxpdf/2016092...8sf5fn1rfs.pdf
Short story - The CEO Borghetti in a company that's turning over $5b, (similar amount to AIR) but made the remarkable "achievement" of losing $A224m in a year when conditions were the most favorable for the airline industry for decades, and despite only achieving a 17.5% success rate on his key performance indicators still earned remuneration totalling nearly A$2.9m and that despite the company needing urgent help from its shareholders to recapitalise and stay afloat. Puts Mr Luxon's package in a company making a record ever operating profit of over $800m before tax into perspective in my opinion.
Or just give them a bonus--why do their lolllies have to be at the shareholders expense?-One buys shares(become a part of a company)just to find you part has been diluted with more shares and your ''part'' suffers as a consequence.
I cant comment on the companies performance,but i can say there are some real bargains out there,as Im sure all have seen.
With less income(ticket price) they are going to have to fill those planes.
For this years Southeast Asia trip ,I was able to get on my favorite airline (Thai Air) for alot less than my second choice last year (even with an extra leg thrown in!)
Look Roger, I notice that we seem to have different views about the mid term outlook for AIR ... and I guess this is o.k. If everybody would predict the same results for any stock, than we hardly would have a market.
Just to have a look at the bigger picture:
Attachment 8489
chart courtesy to yahoo.
Not sure about you, but I would call this a so far unbroken downtrend (and yes, I've heard all the arguments about the special dividend). And sure - most downtrends end at some stage with a trend change (unless they don't, but I don't see at this stage the latter risk for AIR) - and hey, this might be now. On the other hand - if I just look at the dropping (I know, but still nice) EPS predictions and the increasing competition and market volatility would I say that at this stage it is more likely the trend continous to stay for some time below the MA200.
Anyway - time will tell.
Related to the executive salaries - I personally think they are outrageous bordering on indecent, but I know that there are other companies paying still more to their execs. I know as well that there is normally no correlation between the pay rate and the performance of a CEO ... while some might be worth the money they are paid, many are just lucky (until they are not) and I am sure that we both don't need to think too hard to come up with lots of examples for highly paid and unqualified executives.
Remember - Buffett said once something like "better to own a company with an average manager in a good industry than a company with a good manager in an average industry". Sort of puts the reason for high wage packages into perspective - doesn't it? ... and I am not even sure, whether aviation would qualify for Buffett as a good industry.
Anyway - back to AIR: not sure in which category I would put AIR board and management, but the use of their bonus share system points at least to some weaknesses in its current board and management team.
I think there announcement of incentive scheme very positive for share price, clear boundaries to perform
My view is with the enormous size of the final dividend 35 cps including the special of 25 cps which is unprecedented in the airline's 76 year history, to do anything other than adding back in such a huge special into the chart gives a disingenuous view of historical SP performance, (i.e. the chart is technically incorrect). While I acknowledge that some will have differing views on this the basis behind my approach is that effectively the 25 cps special was a return of capital. As noted many months ago, 25 cents per AIR share represents the entire value of the sale of VAH which was all sold for over 30 cents per VAH share...just check the current SP of VAH at 22 cps to see if you think this was a good idea or not :)
BP - If you add back in the 25 cent special into your own chart there's a very clear break above the 200 day MA so your viewpoint and mine in terms of interpreting your own chart differs based purely on the interpretation of treatment of the special divvy.
AIr could have used this money in a number of ways including like QAN to buy back their own shares. QAN's buy-back, given its size could logically be interpreted to influence the share price again skewing their chart and giving a misleading interpretation of historical SP performance.
My view is a chart and interpretation of same (Technical analysis) is only as good as the information that goes into it. Removing substantial anomalous factors gives a far more technically correct picture in my opinion and substantially improves the validity of any technical analysis based on same.
Each to their own, I prefer to interpret pure data rather than data corrupted by hugely anomalous factors. To reiterate, AIR has clearly broken through the 200 day MA on a special dividend adjusted basis. Those that want to wait for their chart to break through on an unadjusted basis will need to wait a bit longer :)
Raz. CL's base salary $1.46m is very modest for a company turning over $5b plus with ~ 11,000 employees. VAH's Borghetti's base salary by comparison is $A1.95m, over 40% more, (currency adjusted) and just look at the relative performance of the two companies ! My opinion, if the bar was set higher to achieve vesting of shares his base salary would need to be adjusted up significantly.
Swings and roundabouts, you pay one way or the other.
Hi folks. Thought I would add my 2c before disappearing again for awhile. Still haven't sold a share.
Been a tough year obviously. I think most of us underestimated the impact to yields that the lower oil price/competition would bring. It's a global phenomenon. Certainly my FY17 earnings estimates have fallen from 40-45c down to 30-35c. That said the share price move down has been dramatic, leaving the company (imho) significantly undervalued, as has been the case for about the last 5 years (has it been that long...).
I certainly knew that FY16 was peak, and perhaps naively thought the dividend / cash-flow story would support the stock. Clearly the negative momentum and uncertainty on yields has mean't a tough devaluation, and risk being priced into the stock.
Where to from here then?
For the ST investor: Yield comparisons get easier in January, so should the operating stats firm up I would expect a re-rating towards 2.50, which values the stock on a reasonable 8x PE.
For the LT investor: Personally i'm not too concerned whether AIR make 28 or 32c in FY17 EPS. The question is sustainability and ideally growth in profit from there. If sustained (along with cash flow) there is a bonanza in FY19-20. I did a few figures and have spoken to the CFO, basically over the next 4 years (if things stay stable), AIR could pay $1.80 in dividends. That's based on a 50c special in FY19, and a 60c special in 2020 plus recurring twenty something ordinary. Over 5 years, you basically get your entire capital back, so if the stock is still at $2, you double your money (15% p.a). Any growth is cream on top.
I wouldn't be so tough on management either. Yes I agree they are too conservative, but with a government shareholder that's natural. As for the pay they are delivering so what's the problem? I would say we are lucky to have them. The new IR is good too.
Best, millimod :cool:
Nice to hear from you Mod, agree with your sentiments, great long term hold.
two good posts here by Roger and Millimod.
But while we could debate that extra 25c divi and how it affects TA, why not just look at the chart like it is?Now I don't know how to post the picture of a chart in here but looking at the chart, the current share price is well above the 50 day SMA and has just broken through the 100 day SMA in the last week. 200 day SMA is currently at $2.28 so still a bit of a way to go but it definitely looks like the stock has bottomed and is currently recovering.
I've drawn a downtrend line from the peak in early 2016 to the peak in April and that trendline is currently at about $2.50 which is in line with a few valuations and may act as a bit of resistance if the share price gets there in the next few months.
If we are trying to guess what is going on with TA traders right now, it definitely looks to me like there is a tailwind, $2 will be the new resistance and I could see the share price increasing over the next month or so to approach the 200 day SMA. If we can get into the $2.20s by end of year, early January, it will set up nice for earnings and then there is the probable return of $0.10 divi which may act as further resistance as the share price absorbs the dividend payment. Earnings at the high end of guidance may add further support but we will all have to wait and see.
That's enough tea leaf reading for one day. Please do your own research.
Poor Gary - should know better than to get grumpy with Air NZ Zealand
http://www.stuff.co.nz/entertainment...-for-two-years
http://www.stuff.co.nz/entertainment...-for-two-years
Interesting comments now below the article. Judging from the consensus plus's and minus's to the various comments it seems there is very little sympathy for Gary. I can't imagine they would have banned him without there being a serious fracas.
The Koru staff in Christchurch are very flexible where able...be surprised if they were part of the problem.
Raz. CL's base salary $1.46m is very modest for a company turning over $5b plus with ~ 11,000 employees. VAH's Borghetti's base salary by comparison is $A1.95m, over 40% more, (currency adjusted) and just look at the relative performance of the two companies ! My opinion, if the bar was set higher to achieve vesting of shares his base salary would need to be adjusted up significantly.
Swings and roundabouts, you pay one way or the other.
Rodger i agree the base is way to low and should be increased, it not much more than a typically medical specialist working the hospital and private practice. The signal of executives continuing to cash up shares as a substitute is a bad signal and just not the norm. My first executive role was a AIM listed company in the UK and my last was as a VP for Fortune 500 based in NYC , every position expected you would not cash up shares unless you left...that is just standard..they pay you a great base and perks in the job and the shares are the cream for you long term future.
http://www.nzherald.co.nz/business/n...ectid=11756983
And on it goes..that Auckland hub thing may be a problem...
Gary in NZ Herald re AIR
"Apparently they have this anonymous committee who hand out edicts - just like the cultural revolution in China. I've no idea who they are, I've never met them, they have never asked me about what went on. I didn't think this sort of thing happened in New Zealand."
http://www.theaustralian.com.au/busi...28fe5ae5676452
A positive for Air NZ.
Thank you for noticing.
That would have been my initial conclusion, but I was reminded that fleet arrivals are usually in July-September (Q1), and that management would look to recommend specials pre-emptivly.
For anyone not following, I am suggesting the 2nd special (60c), would be paid in September 2020 (itself part of FY21) having been announced at FY20. This is a year earlier than one might presume looking at capex forecasts.
All very vague from Gary with "trying to go somewhere and Air New Zealand... well the plane didn't leave and so forth. They said they would switch [me] to another flight and they didn't. I said, 'This was unacceptable'."The 65-year-old said he couldn't recall exactly when the disagreement happened. "I fly a lot. It wasn't last week. I can't even remember,"
Story updated with a release from AIR supporting the decision to ban him under standard procedures "In cases where there are behavioural issues over a long period of time and/or are serious enough for the Police to be involved, there comes a point where Air New Zealand is no longer willing to accept some customers for carriage on our services."
Not sure where he gets the comment he stopped being a member of Koru when they changed things and he couldn't take his family in. I just took my wife and 3 children in to Koru both Auckland and Brisbane on my membership without issue.
Me thinks Gary not going to fair well on this one and good on AIR for taking a stand against someone full of self importance not becoming to their stature.
I am pleased to see the SP hit 2.10 and showing some strength and a happy holder looking ahead, missed out on buying more at the 1.70s range thinking weakness was going to hang around for a while. Should have flipped the coin again and gone best out of three......