Flying Close to the Sun

Im just sitting here at the moment pondering. I am sitting here on a beautiful Autumn day - 21 degrees - and Edinburgh is pretty much doing what it has been doing for the last 100 years. Going to work, largely. 

I guess you are sitting down at your computer and wondering when this #covid19 bullshit is going to stop.We must go "back to work" and that means most of the restrictions that we face in most parts of the globe - except Sweden where they have got it right - must be rescinded.

We have got companies and individuals that have been hurt fatally and many others that are right on the edge. 

Which brings me to the point of this post. Flying.

I have been on this route - from Hastings to Edinburgh for a couple of years with of little consequence except of course the length of the flight and i look up into the sky now whenever a plane fly's by because they are so few these days, to see where the plane is domiciled.

I was just watching CNBC and they had a full list of the Airline companies that have borrowed money and boy have they all collectively borrowed 10's of billions of green backs - remember this is CNBC. BUT taking a sweep over the lot of them - Delta American Airlines etc  looking at their market caps they are down around half of what they were trading at before this thing began back in Feb. HALF.

BUT trading has not returned to anything like half the biz they were once doing.

True they are doing much better than #airnewzealand and #Qantas is doing right now because in the US they rely far more on domestic than they do international for numbers of people through the door.

BUT i still remain highly skeptical about the Airline market as an investment. We all know of the impact our Govts have had on the market. This at the moment is a current thing. Things have not changed highly for the last 6 months. Yet these Airline companies are still "worth" billions - they are not.

The Airline market wasn't a money maker before 2020 and after that date things are looking very dicey - as a plane from Qatar fly's overhead, must be the only plane that i have heard today VS #precovid19 they were flying all the time - and the longer the knukkle draggers in parliament/s all across the world waggle their finger at us the dicier it does get.

But look at the market caps people, i wouldn't even get on the plane. I would be off at the internet booking and putting my money elsewhere.

May I suggest you are a masochistic if you don't.

AIR @ Share Investor

Share Price Alert: Air New Zealand Ltd
Queenstown Aiport Case: Air New Zealand VS Auckland
Queenstown Airport: Loud Voices & Loyalty
Long Term View: Air New Zealand Ltd
John Palmer Tipples on the Shareholder
Mike Pero and Air New Zealand: Capitalism vs Socialism
Rob Fyfe's "Environmental Extremism"
Reality Needs to Bite
Air New Zealand wants another taxpayer bailout

Share Investor Group

c Shareinvestor 2020

 

The Worst Customer Service I Have Ever Had: Jetstar

I posted the following on facebook on February 18.

I traveled to Auckland from Napier for the last 2 years 2 times a month via Air New Zealand until December to see my daughter. 

I'm going back to Auckland for good in 2 weeks.

I wanted to give the incumbent some competition so bought 2 tickets in Feb for $118. Much cheaper than Air New Zealand.

BUT HERE IS THE WARNING. Do not under any circumstances buy tickets for any Jetstar flights. They will be late. In many cases, like below, not come at all.

Your not going to "like" this. I just got back to Napier after spending the night in Auckland at the International Terminal (got 2 x 8 food vouchers) because "we ran out of time and just decided not to go tonight, cause we ran out of time" (my emphasis).

I have to thank Hollie at the desk, there that she was so embarrassed she offered to PUT ME UP IN A HOTEL AT HER EXPENSE for the night - such a sweet thing to because if you know me i have had a stroke and 5 seizures and i "have" (i say this but it seems its past now) to have my meds twice a day) Hollie (i think it is Hollie) you a wonderful person,

We decided to get you all on the 3.00pm the following day (today) but get this there is a flight to Napier at 8.45am so i try to get on this i get asked to come back at 8.15am but find the plane is late, go figure, so the standbys that they usually have, they had empty seats on the plane, they don't have anymore. They have them there but it is there policy to cut you off.

To cut a long story short a wangled my way onto the plane after shouting at the top of my voice (i meant too but i simply shouldn't have to) I simply wanted to give the other guy a go (love competition)and was willing to forgive them the fact that i was one hour late GETTING TO Auckland and had a return ticket booked next week as well.

But guess what, i will never, fly Jetstar again.

Thanks to this, countless others will be thinking again. 

You have been warned.

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c Share Investor 2016

Air New Zealand: On the Way Down

Air New Zealand is probably a very good airline.

I can either not afford to fly with them (in New Zealand I have to) and when I can it is some sort of forced codeshare thingy.

Those of you who know this blog well know i'm not a big fan of airlines and I share my fear of investing in them with that famous billionaire Warren Buffett.

I fear the end of the line for Air New Zealand, soon.

What I am saying is the number of news stories, local and international, about airlines expanding into new territories is particularly worrying. GROWING airlines, growing seats, lowering fares, its the only business I know that people(investors)get excited about prices going down - you should be worried.

The Airline has been doing ok for a number of years but this year after oil prices hit the bottom (i'm picking in the mid to high teens) and start rising things will start to move the other way.

The staff labour costs, fees paid to airports, divs to the govt, cost of food, cost of computer systems and long flights proportionately cost more. There are in the air for longer and burn a shit load of fuel.
Passengers just pay for one ticket. Air New Zealand are flying longer flights - along with everyone.

Of course there's hedging. The person in charge of this I would say has the most important job in the airline. What he does now will ultimately affect what happens a few years down the road.

By all accounts Air NZ has a very good one/s.

Be very careful if you are a long term investor. I would avoid this stock at all costs.

If however you are in it for the short term then Bobs your uncle, go for it.

You probably know when to pick it.


AIR @ Share Investor

Queenstown Airport: Loud Voices & Loyalty
Long Term View: Air New Zealand Ltd
John Palmer Tipples on the Shareholder
Mike Pero and Air New Zealand: Capitalism vs Socialism
Rob Fyfe's "Environmental Extremism"
Reality Needs to Bite
Air New Zealand wants another taxpayer bailout

Discuss this stock at Share Investor

c Share Investor 2016

Share Price Alert: Air New Zealand 2

Air New Zealand Ltd [AIR.NZX] is faltering.

Its share price has not been north of $1.50 for almost 6 YEARS !

It is well off its highs of over 3 bucks in 2007 and off its recent lows on news of Rob Fyfe leaving in January, announced September.

Its been doing more or less an even flypast since October and looks expensive right now.

If you are thinking of buying this stock (I must warn you again the stock is off 2007 highs) buy in the cents per share. It will be down there again soon.

Then it may well be worth buying, mind you the bailout from "THE GOVERMINT" is going to have some impact.

Watch this turkey, its expensive and you will eventually lose all your money or most of it. 

Tip, invest your shekels in Boeing... 



AIR @ Share Investor

Share Price Alert: Air New Zealand Ltd
Queenstown Aiport Case: Air New Zealand VS Auckland
Queenstown Airport: Loud Voices & Loyalty
Long Term View: Air New Zealand Ltd
John Palmer Tipples on the Shareholder
Mike Pero and Air New Zealand: Capitalism vs Socialism
Rob Fyfe's "Environmental Extremism"
Reality Needs to Bite
Air New Zealand wants another taxpayer bailout

Discuss this stock at Share Investor Forum - Register free
Download AIR Company Reports








c Share Investor 2013

The Market says Rob Fyfe has failed

So the departing CEO of Air New Zealand Ltd [AIR.NZX] is leaving his post at the end of 2012 and being lauded by some as a  "rockstar" CEO and the saviour of an airline.

According to the market though he is not.

If we look at the 7 year chart below - the length of time Mr Fyfe has been with AIR NZ -.we can see that the share price has kamakazied to half the value it was when he took over in 2005.

7 Year AIR Chart

Not only that, the share price is an all-time low (see 10 year AIR chart below) since the company was injected with a billion taxpayer dollars in 2002. Hardly the stuff of first-class lay back and champagne flutes.

10 Year AIR Chart

Over its 10 year listing Air New Zealand has had negative returns for investors and the share price was markedly better under Sir Ralph Norris who managed the current structure of the company well through its formative years in the early 2000s.

I know airlines are notoriously difficult to run and it is hard for them to make money but the plaudits and pats on the back for him now are misplaced at best and arse kissing at worst.


AIR @ Share Investor

Share Price Alert: Air New Zealand Ltd
Queenstown Aiport Case: Air New Zealand VS Auckland
Queenstown Airport: Loud Voices & Loyalty
Long Term View: Air New Zealand Ltd
John Palmer Tipples on the Shareholder
Mike Pero and Air New Zealand: Capitalism vs Socialism
Rob Fyfe's "Environmental Extremism"
Reality Needs to Bite
Air New Zealand wants another taxpayer bailout

Discuss this stock at Share Investor Forum - Register free
Download AIR Company Reports

From Fishpond.co.nz





 



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c Share Investor 2012

Paul Henry Video Collection: Air New Zealand In Flight Video

A great little Air New Zealand Made even better with the inclusion of Paul Henry. He is back baby and this is just the beginning. Richard Simmons is having a ball.

I wonder if Darren Hughes has been in touch?

Paul Henry @ Political Animal

• Beginning of the end for TVNZ Breakfast Show
• Why the NZ Herald is after Paul Henry
• Paul Henry Video Collection: Indian Petrol Pump At...
• Paul Henry Video Collection: Paul has Laughing Fit...
• Is Paul Henry a Dikshit?
• Is Joris De Bres' Racially Biased?

Buy Every Bastard Says No - The 42 Below Story, by Geoff Ross & Justine Troy & more @ Fishpond.co.nz

C c c Darren Rickard 2011

Queenstown Aiport Case: Air New Zealand VS Auckland Airport

On news that Auckland Airport Ltd [AIA.NZX] have secured a deal for China Southern Airlines to begin flights between Guangzhou and Auckland starting in March because of Auckland Airport's deal with Queenstown Airport at the end of 2010, we must revisit Air New Zealand Ltd [AIR.NZX] opposition to the marriage between Queenstown and Auckland Airports, especially in the light of the recent purchase by AIR of nearly 15% of Virgin Blue Holdings Ltd [VBA.ASX] last week.

Air New Zealand's Rob Fyfe and Bruce Parton last year indicated his airlines opposition to the AIA/Queenstown merger was because of their monopoly status and the "anti-competitive" nature of the company the port already had and the purchase of 27.7% of Queenstown Airport would cement that monopoly.

There are also several businessmen in Queenstown in opposition to the merger and factions within the Queenstown Council, who own the majority of the Queenstown port.

Apart from the clear benefits that the Chinese Airline will have on the New Zealand economy, benefits that I initially was dubious about last year when the deal was announced, the added revenue for AIA is going to be good for shareholders, especially as this route looks like it will develop further over the long term.

For Air New Zealand to continue their case in the Christchurch High Court is to be guilty of hypocrisy of the highest order.

While you may agree that Auckland Airport has a monopoly - it indeed does and that is why I am a shareholder, AIA's purchase of Virgin Blue is pretty much the same deal as engineered by AIA/Queenstown and also cements, for AIR, a history of anti competitive behavior in the Airline business in this part of the world and specifically the stranglehold they have on flights into the booming Queenstown tourism sector.

For them it is about protectionism of their near monopoly in Queentown and the benefits this has on their routes out of that port and Auckland Airport as well.

In effect they are attempting to do the same as Auckland Airport.

Don't expect AIA to take a court case against AIR though.

You wouldn't expect less from a quasi Govt Department though with taxpayer dollars bankrolling them.


Disclosure I own AIA shares in the Share Investor Portfolio


AIA @ Share Investor

Auckland Council look set for a Auckland Airport Takeover
Auckland City Council new AIA Policy Doc
Make me an offer I cant refuse: Auckland International Airport Ltd
Long Term View: Auckland International Airport
VIDEO - Simon Moutter on Australian Airport Purchase
Auckland Airport Capital Raising a fair call
Auckland International Airport lands Australian Ports
What Infratil sale of Auckland Airport stake means...
Is another Auckland Airport bid likely under a business friendly Government?
Latest Airport coverage
Cullen's move on Auckland Airport has far reaching effects
Cullen's move on AIA tax plan Anti-Business
AIA profit stays grounded
Softening opposition to CPPIB bid for AIA
Directors of AIA bribe brokers not to sell
What is Auckland Airport worth to you?
Second bite at AIA by CPPIB might just fly
AIA new directors must focus on shareholders
Auckland Airport merger deal nosedives
The Canadians have landed
AIA incentive scheme must fly out the window
Government market manipulation over AIA/DAE deal
DAE move on AIA: Will it fly?


Queenstown Airport Buyout @ Share Investor

Queenstown Airport: Court Case looks set to Drag
Queenstown Airport: Loud Voices & Loyalty
Queenstown Airport: Air New Zealand's Crocodile Tears
Queenstown Airport: AIA purchase good Long-Term but will cost shareholders Short-Term

Discuss this Stock @ Share Investor Forum - Register free
Download AIA Company Reports
Download Queenstown Airport Company Reports

AIR @ Share Investor

Queenstown Airport: Loud Voices & Loyalty
Long Term View: Air New Zealand Ltd
John Palmer Tipples on the Shareholder
Mike Pero and Air New Zealand: Capitalism vs Socialism
Rob Fyfe's "Environmental Extremism"
Reality Needs to Bite
Air New Zealand wants another taxpayer bailout

Discuss this stock at Share Investor Forum - Register free
Download AIR Company Reports




THINK BIGGER: HOW TO RAISE YOUR EXPECTATIONS AND ACHIEVE EVERYTHING
BY MICHAEL HILL





c Share Investor 2011

Queenstown Airport: Loud Voices & Loyalty

Yep, just like some folk down in Queenstown and management of Air New Zealand Ltd [AIR.NZ] at their plush new head office in the most expensive real estate in the country, in Auckland, I am fired up about Air New Zealand's attack on Auckland International Airports [AIA.NZ] buyout of nearly 25% of Queenstown Airport.

Management met with some Queenstown council drones yesterday to assuage their fears that the airport was stolen from the Queenstown ratepayers but it looks like there are a few loud voices down there filling newspaper and webspace in the hope they are noticed before local elections latter on this year. The majority of ratepayers must be pleased that the nearly $30 million that AIA paid for their share of the port might just be put to paying off council debt, if councillors do their jobs properly. This would mean less of a rates rise in 2011 and wouldn't that be a good platform to stand on for election.

There is an agreement by AIA and those on the council side of the airport deal for Auckland Airport to raise their 27.7% stake up to 35% but unless there is a firm deal to do that it looks like this deal could be compromised by the chatter.

As I said in my second post of this deal Air New Zealand's poke at AIA for being "anti - competitive, greedy and monopolistic" is kind of laughable considering the way the company has been ripping off New Zealanders for decades with sky high fares and their own monopolistic business practices and this story out today about an Air New Zealand's Starfish Card a "loyalty programme" that will cost users $800 per annum in order to get a regional flight discount is surely evidence that the airline will do anything as long as there is no competition to keep them honest.

Why not just charge customers lower fares ?

Answer? Because they don't have to as they have no competition in this area of their business.

This is the very reason Air NZ has taken a shot across the bow of Auckland Airport and clearly makes little sense given they continue to rort their "loyal" customers.

Meanwhile the NBR reports that AIA management are "bemused" by AIR NZ's public outbursts and I would have to agree and I must add confused by the AIR move.

Sour grapes.


Disc I own AIA shares in the Share Investor Portfolio


Queenstown Airport Buyout @ Share Investor

Queenstown Airport: Air New Zealand's Crocodile Tears
Queenstown Airport: AIA purchase good Long-Term but will cost shareholders Short-Term


AIA @ Share Investor

Long Term View: Auckland International Airport
VIDEO - Simon Moutter on Australian Airport Purchase
Auckland Airport Capital Raising a fair call
Auckland International Airport lands Australian Ports
What Infratil sale of Auckland Airport stake means...
Is another Auckland Airport bid likely under a business friendly Government?
Latest Airport coverage
Cullen's move on Auckland Airport has far reaching effects
Cullen's move on AIA tax plan Anti-Business
AIA profit stays grounded
Softening opposition to CPPIB bid for AIA
Directors of AIA bribe brokers not to sell
What is Auckland Airport worth to you?
Second bite at AIA by CPPIB might just fly
AIA new directors must focus on shareholders
Auckland Airport merger deal nosedives
The Canadians have landed
AIA incentive scheme must fly out the window
Government market manipulation over AIA/DAE deal
DAE move on AIA: Will it fly?

Discuss this Stock @ Share Investor Forum - Register free
Download AIA Company Reports
Download Queenstown Airport Company Reports

AIR @ Share Investor

Long Term View: Air New Zealand Ltd
John Palmer Tipples on the Shareholder
Mike Pero and Air New Zealand: Capitalism vs Socialism
Rob Fyfe's "Environmental Extremism"
Reality Needs to Bite
Air New Zealand wants another taxpayer bailout

Discuss this stock at Share Investor Forum - Register free
Download AIR Company Reports

Security Analysis: Sixth Edition, Foreword by Warren Buffett (Security Analysis Prior Editions) by Benjamin Graham Buy new: $41.77 / Used from: $33.50 Usually ships in 24 hours

c Share Investor 2010

Queenstown Airport: Air New Zealand's Crocodile Tears

The outburst of hot air from Air New Zealand Ltd [AIR.NZ] domestic airline general manager Bruce Parton over the weekend about the deal Auckland International Airport Ltd [AIA.NZ] stitched up over buying a piece of Queenstown Airport seems to be nothing more than sour grapes from a company that practices the same sort of monopolistic, anti-competitive business that the airline is accusing the airport of practicing - one of the reasons I bought AIA shares by the way.

"AIAL has displayed significant greed over several years and is adept at fleecing travellers. It would be naive to think it's not aiming to increase airline and airport charges, which will ultimately increase the cost of travel into and out of Queenstown," NZ Herald, 24 July 2010

Mr Parton's part of the airline has had a decades long history of over-charging on most of the domestic routes that it operates on and still does when not faced with competition in small towns - Napier is still a route that you have to take a mortgage out just to fly there and I am sure you have your own story to tell about your own local Air New Zealand rort.

Lets forget about that though. This is simply part of business. When you don't have a competitor to keep you honest there is always the temptation to charge more. In Auckland Airport's case they are able to charge more because of their size and dominance in this part of the world and that is unlikely to be challenged anytime soon simply because they are the biggest and will probably remain the biggest for many more years to come.

Mr Parton's suggestion that the deal between AIA and Queenstown Airport needs to be looked at by the Commerce Commission is a retrograde move by a manager without the foresight to make the move on Queenstown before AIA did. Is it really going to be a fair playing field if one or more of the airlines flying to Queenstown own the means to fly there and the Airport as well? I dont think so.

Whatever you think of Auckland Airport's business practices and charges - and some of them have been and still are highly suspect and overpriced - Air New Zealand operates in a similar manner and will continue to do so given the opportunity to own part of Queenstown Airport.

Better that a company with experience at running an airport, rather than a state run bureaucracy like Air New Zealand have a chance to fleece us all over again.

Mr Parton's cries are those of a hungry, anti-competive, monopolistic crocodile.


Disc I own AIA shares in the Share Investor Portfolio



Auckland International Airport @ Share Investor

Queenstown Airport: AIA purchase good Long-Term but will cost shareholders Short-Term
Long Term View: Auckland International Airport
VIDEO - Simon Moutter on Australian Airport Purchase
Auckland Airport Capital Raising a fair call
Auckland International Airport lands Australian Ports
What Infratil sale of Auckland Airport stake means...
Is another Auckland Airport bid likely under a business friendly Government?
Latest Airport coverage
Cullen's move on Auckland Airport has far reaching effects
Cullen's move on AIA tax plan Anti-Business
AIA profit stays grounded
Softening opposition to CPPIB bid for AIA
Directors of AIA bribe brokers not to sell
What is Auckland Airport worth to you?
Second bite at AIA by CPPIB might just fly
AIA new directors must focus on shareholders
Auckland Airport merger deal nosedives
The Canadians have landed
AIA incentive scheme must fly out the window
Government market manipulation over AIA/DAE deal
DAE move on AIA: Will it fly?

Discuss this Stock @ Share Investor Forum - Register free
Download AIA Company Reports
Download Queenstown Airport Company Reports


AIR @ Share Investor

Long Term View: Air New Zealand Ltd
John Palmer Tipples on the Shareholder
Mike Pero and Air New Zealand: Capitalism vs Socialism
Rob Fyfe's "Environmental Extremism"
Reality Needs to Bite
Air New Zealand wants another taxpayer bailout

Discuss this stock at Share Investor Forum - Register free
Download AIR Company Report





c Share Investor 2010

John Palmer Tipples on the Shareholder

Air New Zealand Ltd [AIR.NZ] chairman John Palmer has decided to side with the politicians over the great credit card swindle of New Zealand taxpayers.

Good on him for openly declaring his indiscretions but shareholders and taxpayers shouldn't be paying for John's tipples after work.

John reckons:

mini-bar bills are "just part of commercial life".
The professional director said yesterday that he felt sorry for some MPs over criticism received for claiming expenses such as alcohol in hotel rooms.
"I've got a good deal of sympathy for some of them, as someone who travels a fair bit and who does actually have a beer out of the hotel fridge and puts it on the hotel account, and spends a huge amount of time away."
Often hotel rooms were places of work, where staff made progress on decisions with colleagues or guests, Mr Palmer said. "That's just part of commercial life." Read More at Stuff.co.nz
Mr Palmer is also a director of AMP Ltd [AMP.NZ] Rabobank in this part of the world and Chairman of State owned miner Solid Energy.
I would argue that Mr Palmer has breached a line when he considers that shareholders and or taxpayers should be footing the bill for his alcohol indulgence.
Alcohol is definitely personal spending and at minibar prices shareholders are getting an even rawer deal. Have you checked out the price of a minibar Mars Bar recently!
Am I being petty?
Maybe, but I think spending like this shows a contempt for those employing you and paying your wages and a culture of waste, especially evident at Air New Zealand and Solid Energy.
Shareholders in Air New Zealand and AMP should get in contact with the respective investor Centres and let them know they are not happy with John's free spending.
You should be annoyed with John and his attitude. It is your money that he is wasting and as shareholders and taxpayers you deserve much better.
It is indicative of further waste.
Contacts
Air NZ Investor Centre
AMP Investor Centre
Solid Energy

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Security Analysis: Sixth Edition, Foreword by Warren Buffett (Security Analysis Prior Editions) by Benjamin Graham Buy new: $41.77 / Used from: $33.50 Usually ships in 24 hours

c Share Investor 2010

Long Term View: Air New Zealand Ltd

In this series of posts I am going to be looking at stocks listed on the NZX in relation to their returns to shareholders over the life of their listing -what shareholders would now see in their back pockets if they had invested in the company IPO.

The calculation of returns includes dividends and tax credits.

Lets have a look at Air New Zealand Ltd [AIR.NZ] this time. Air NZ hasn't been a good investment for shareholders in terms of returns since its NZX recapitalisation in 2002. With 46 cents in net dividends (see chart above) paid and another 33% of that figure gained for those eligible for associated tax credits, an approx 6% return (see chart below for the share price percentage gain against the average of all NZX indexes) over the current 8 year listing gives an approx annual net return of 0.75%.

This is nearly 11 times worse than the return from the average of all NZX indexes over the same period.





Long Term View Series

Auckland International Airport
Air New Zealand
AMP Ltd
Briscoe Group Ltd
Contact Energy Ltd
Delegats Group Ltd
EBOS Group Ltd
Fletcher Building Ltd
Fisher & Paykel Appliances
Fisher & Paykel Healthcare
Freightways Ltd
Goodman Fielder Ltd
Hellaby Holdings Ltd
Mainfreight Ltd
Metlifecare Ltd
New Zealand Refining Ltd
Port Of Tauranga Ltd
Pumpkin Patch Ltd
Restaurant Brands Ltd
Ryman Healthcare Ltd
Sanford Ltd
Sky City Entertainment Group Ltd
Sky Network Television Ltd
Telecom NZ Ltd
Telstra Corp Ltd
The Warehouse Group Ltd


Air New Zealand @ Share Investor

Mike Pero and Air New Zealand: Capitalism vs Socialism
Rob Fyfe's "Environmental Extremism"
Reality Needs to Bite
Air New Zealand wants another taxpayer bailout

Discuss this stock at Share Investor Forum - Register free

Download AIR Company Reports

Recommended Amazon Reading


The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel (Revised Edition) by Benjamin Graham
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c Share Investor 2010