Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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IAG will go up, don't ya worry Little clo wn!! The trading day is not over yet!! By the way, as you are not invested here , fugassin, it will not be of any interest to you....I will buy you a 99p cone when i sell at a big profit!!I promise ya!
HOLD and don't listen to clo wns !! DYOR.
Oh dear the 1% rise has been wiped out .
SunDunce had a Eric Shun.
Ri will sort that out.
Results are going to be horrendous. Fireworks appropriate.
BB, good, bring it on...a big spike is to be expected then on the 5th Nov. And that will mean we can finally move on and we won't be seeing these repetitive posts and the grand re-opening will follow... whats not to like?? It could be that they don't need to make any statements, just report better than expected results and announce soaring future bookings. DYOR.
142p still arriving in due course
€195m per week, possibly €270m pw cash burn.
It unsustainable.
Berenburg said an RI could be as long away as early in the new year. That is a very very very long time for the company to not answer. Last time they took a week to answer the first 3 RI comments, they are over that now for Berenberg. There is no way they can string it along until the new year. Instead we have silence. If dilution could be avoided now we know the budget and lack of state help for the air travel sector, then it stands to reason with the proximity of the 5th Nov results that we will be given a firm statement on the finances going forward then. Friday's are an ominos day for such news.
Little Fugassin, I removed everyone from the Filter as I wanted to have a laugh as you (the clown) and some others are making people laugh all day..it's free entertainment.
Yesterday you said we would be down 5% today...and here we are..up on the day.
I am the one to laugh my FA offffffff.
By the way, you have been saying the RI cometh for a loongg looong time now and you are making yourself look rather silly now, a laughing stock.!!!! Poor you!!
Sun Zelda Post confirms I'm not of filter after robustly stating I am.
Lmfao.
@ Little Fugassin posted yesterday:
"Closed under 160p. Not looking good.
5% cheaper tomorrow.
Once RI announced will knock 40 to 50 % off.
Cash but closer to €270m per week, as announced by FT.com."
Laughable really!! Always DYOR and do not panic sell just because someone who works in a circus tells you to!!!
Little Fugassin, if your Refurbished Asus laptop say IAG is down 5%, i suggest you buy a new Apple Macbook Air!!! :))
FT suggest cash burn near to €270m per week.
This is unsustainable.
RI cometh.
"Income for the group is much more complicated than simple measures."
And all you have to do is look at the accounts to see what the total is both in terms of revenue (for profit and loss) and cash (for how much it needs to draw on reserves). I agree that projecting forward is difficult as there are so many moving parts but seeing what revenue and cash inflow have been is not - they are matters of fact and readily available - if you bother to look.
PAX Revenue in Q1 '21 was €459m and in Q2 '21 was €682m. PAX Revenue in Q3 last year was €737m. PAX Revenue Q3 '19 was
€6.536b.
Those are pretty much the ends of the spectrum for comparison
I don't equate income to passenger numbers and BA is only one part of the group. Income for the group is much more complicated than simple measures. If I have time I may look at the last financial statement, but for me, if it was that simple to cover the cashburn, I have to ask why did all those brokers come to the conclusions they did?
We will know in a few days and somebody is going to own the playground for a day!
On the positive side, whilst the air passenger duty has been shuffled around, the climate change lobby has been resisted by the treasury at least. A lot of direct attacks from the interviewers, "how could you just before cop"? Seems there are still some around in government not led by vanity first, rationality second. Against the hysterical cult of climate change, to stand against even a minor diktat is difficult as the mass media goes awol for days in response. The degree of coercion leading up to cop26 may even be having the opposite effect as it all begins to look much more political than scientific. Which is the fundamental point. So the airlines could have been hammered in the budget for the cause of climate change to applause from the fundamentalists and gods of TV and Rishi would be carried on the shoulders and penciled in as the next PM. But instead the airlines were not hammered, although they should very definitely have been included on the list for the business rate relief. Every single claim made by the climate change money grabbers can be answered. There are very serious issues with the integrity of data used to make their claims. There is no independent checks on anything claimed and mass media repeats everything without any critical analysis at all. The airlines seem to have survived the budget, with a bit of common sense they may survive the zealots at cop26, but don't expect to see much rationality in Glasgow.
"There is undoubtedly income offsetting cash burn, but the to the extent Hexam is making out I find very difficult to believe"
All you have to do is look at the accounts. The figures are there and perhaps one reason you don't believe them despite being in black and white is that maybe your focus is on BA passengers and current flying. Only about 20% of their revenue and less than 15% of their cash inflow for the first half of the year comprised of people actually flying BA in that time. In fact they got more revenue from people flying Iberia and from Cargo on BA.
So I don't care if anybody believes my numbers or not as they are not my numbers. If anybody wants to see the numbers for themselves all they have to do is look at the accounts. Lots of good info there and it is a lot better than guessing.
There is undoubtedly income offsetting cash burn, but the to the extent Hexam is making out I find very difficult to believe given the significant restrictions to travel this year. I haven't looked at the Q1s or where they come from since there will be a never ending argument on numbers. The investment decisions are based on what you estimate the net losses are over Q2/Q3 and how well the existing financial measures are coping with those losses and can keep the business fully operational as Q4 and onwards recovery unfolds. I note there is still plenty of testing requirements around which has been a big turn off for many travellers. For me, I know the brokers get private briefings revealing the state of company finances that the rest of the market doesn't see which they summarise for the market. One that basis a big red flag was raised for me. Others choose to not see the red flag. I am still expecting a debt for equity swap or being the substantial part of the financial review. It is looking likely the results of the review will come up with the results now. If there was no dilution on the cards I am certain the company would have had a statement, if not an RNS, out by now. They never hesitate with good market news, no listed company every delays good news!
Hi BB,
Bit of a busy day yesterday...
Just to clarify the point of my post was to clarify the lack of distinction provided by Fugazi on Gross vs Net burn as he does regularly get the two muddled up (probably as they didn't cover it in the wolf of wall street movie). It is the case that Gross burn is most commonly looked at in new companies, as they tend to generate very little revenue it gives a much clearer indication of exactly how long it is until they will run out of cash (financial runway). With established companies net loss is really the figure of most relevance, it's a little trickier with airlines as the revenue and COS does vary drastically in summer compared to winter, so comparing it on a Q v Q basis is a bit tricky, a good comparison would be comparing to the relevant quarter last year.
As far as the rest of it goes, I would agree with you on the vouchers, this will likely continue into next year. However the average load factor required for profit in 2019 was (off the top of my head) in the 70% range. If you have a look at the prices AORN they are significantly higher for next summer than they were for the summer of 2020 during this time in 2019. We fly across the pond several times a year as my partner is from over there and when she flew over last Christmas she was the only person in F both ways, yet one week ago club on the A350 was roughly 90% full. We're also flying across for Christmas this year (same dates) and both club and WTP on the 787 are all but sold out (fortunately we booked before Canada opened). Now considering there's still various restrictions in place for those that haven't been vaccinated, and also some inconveniences for those that have, it does imply that demand will recover to a profitable level when the governments decide they want to let it.
142p closing in.
Ri closing in, might actually be this week? But we all know its cometh.
Ps, FRR and VOG gave me very early retirement. Sorry for those that lost. Lol.
Additional tax on long haul.
Lol
Iag under even more pressure.
ABBA...anyone but British Airways
Nice one Coolebenji..If oil is down 2.5 %, ftse is rising now...what sector is rising?? Airlines IMO.
Is FTSE rising or falling after close. CLOWN!!!
@Sund.. oil down 2.5% on the day as well ;)
Dow recovering ??
Where, its in 3 red figures!
Double bottom @ 81p.
Whats to say price will not test support? There's nothing to stop it the market chooses.
Weekly cash burn for iag €195m, but FT .com said it could be closer to €270m
Ftse 100 rising.
Dow recovering.
IAG will outperform on results day. not long now..The clown will be gone.
The costs? They are the numbers you gave. I'm not disputing those - 190m euros per week for Q2 and 175m euros per week for Q1. They are the numbers the company gave. Not sure what your point is. I am saying the the net figure should be used (both the costs and revenue) as that is what the impact on cash reserves will be driven by - not just the costs and not just the revenues.