April 15th - qantas started dropping from $4.06 to now $3.36 & they have a share buy back in place supporting the sp each day..
Virgin started falling off a cliff back on around Feb 8 from 49c to now 28c
Air New Zealand peaked around Jan 25th at $3.07 now we're down to $2.10
What does this mean that the airlines have lost profitabilty to the tune of 1/3 in the case of AIZ - the contrary 2016 looks like a thumper even with that class action settled & selling Virgin (most likely at a loss) will give them tax credits & cash
Singapore airlines will be the most likely buyer and will probably pay more than the current sp - AIZ will have cash and its main shareholder (NZ government) wouldn't mind some... even if they only give 100m back thats still 50m to the NZ government and given they only run small budget surpluses (last year only 176m) 50m or more would go a long way - I notice that they wanted the sale done by June 30 as well which lines up with the tax year....
AIZ Price at posting:
$2.10 Sentiment: Buy Disclosure: Held
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