• Gearing at 48.6%, an improvement of 3.8 percentage points
@Pythia weren't you concerned about rising gearing? looks like they have room to borrow more if they needed to - though with $1.6Billion in cash why would they?
• Expected aircraft capital expenditure of $2.1 billion over the next 5 years
@Pythia weren't you saying that gearing had to rise to pay for the nice shiny new aircraft - $2.1Billion over the next 5 years is $420million a year but they have $1.6Billion in cash and could easily pay cash for roughly the next 4 years? There is the projected savings to flow from having a new fleet with less models to service..
Given the uncertain impact of competition and based on the current market conditions, the airline expects earnings before taxation for the full year 2017 to be in the range of $400 million to $600 million.**
** Based on a fuel price of US$55 per barrel for the remainder of the year.
As can be read into this - they have budgeted the $400 to $600million earnings based on an oil price of $55 for the rest of the year - they also settled the US class action which cost $86million and won't be taking away from next FY...
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(20min delay)