Member Info for Beo1

He means the company will pay tax on profits, dividends are then paid our after PAT, and then the dividends are tax on the receiver, it is a type of double taxation, but the tax rates aren't the same so its not really.

EG if you set yourself up as Consultant PLC, you would pay tax on profits and if you wanted to take the profits out of the business and not via a salary, then you would be getting taxed on them again.

Also

Q2 CY £(224)m vs PY £(278)m so +£54m. Q3 PY was £203m so £250m seems low on the same trajectory. Obviously at some point you chase your tailwind, but with holiday growth and passenger numbers looking up still, I think sub £250m would be disapointing

Check it out

FY EPS

Low Estimate 59.7 (£630m)

Avg Estimate 67.4 (£711m)

High Estimate 83.3 (£880m

my estimate is EPS 71.8 (£750m)

Q1 Revenue was up 22% Q2 was up 21%, Im saying 8%, so yes BH impacts but i think 8% is conservative, especially when EZJ have said holidays would generate £50m more profit YoY, which the revenue element will be a big chunk of that 8%

Also

The average analyst has us at £711m FY profit, my estimate of £300, + £800m for Q4 puts us at £750m FY. So if we hit the low end of your estimate then I fear the reaction to the SP could be negative as that leaves alot of ground to make up to achieve the £711m FY thats "effectively" been priced into the SP

My estimates based on 8% Sales Growth YoY (H1 was 22%), and costs seeing roughly the same improvement in % terms as Q1 and Q2 YoY, could be as much as £300m profit. I actually think 8% is prudent, its just using costs of 81.6% might be a bit generous. (PY was 84.2%, but Q1 & Q2 CY were down circa 3% on PY, seeing as some costs are fixed in nature you'd hope to leverage those overheads on higher revenue. So I'm going for £300m for Q3.

Can only assume due to low volumes being traded, of which sells outweigh the buys that the MM are trying to create a market at a lower SP to stimulate buys?

I assume your aware the dividend from now on (not including the recent one soon to be paid) has been cut 50%, so about 4p "once" a year, still attractive compared to where interest rates might be heading, but that "Value" degrades as the SP hopefully rises.

Not quite as simple as that. If lufthansa feeling squeezed on volume, they will drop the rate, that then impacts EZJ on the routes we both use, as they will have to drop accordingly potentially. Its all about the Yield really for the market and they will feel that EZJ will come under some Yield pressure due to Lufthansa volume issue and how they react to it.

Check Lufthansa RNS, dropped there FY guidance by quite a chunk

Yes that looks to be the reason

Anyone know why us , IAG and Wizz all just saw a big drop, some news just drop?

That article written by AI? some very misleading comments in it. Says it has rewarded us by increasing the dividend and has one of the best Yields at 10.7%.

So seems Delta results aren't liked by the market, which as took away all the gain we made today, fail to see how Delta delivery record revenue and profit is bad enough to have them down 8% pre market, nevermind how all the UK airlines dropped on the news, anything in their guidance indicating rocky times ahead?

It would still be the same revenue per seat, its per seat not per person

Sorry yes your right

"The below individuals acquired shares under the Vodafone Global Incentive Plan. The vesting of the share awards was conditional on continued employment with the Vodafone Group and on satisfaction of the performance conditions approved by the Remuneration Committee."

All the "purchases" on that date were as per the same Plan.

So your saying the trend has been fewer on lease and more or owned, but then asking if any cash will go towards buybacks? Haven't you kind of answered where some of that cash will go? Not to mention the next 5 years have replacements but also growth in plane counts so if a larger % of the fleet is being pushed to owned then they need to build cash for that. Otherwise other forms of debt finance would be needed

Also typically the people building the planes aren't the ones who then finance it through leasing agreements. That will be finance houses who in effect buy the asset on your behalf and then charge EZJ a monthly fee for that. So not sure on your comment about leasing having the build slots in place, EZJ have the slots in place for what they want, the decision for them is do they fund with cash or debt (debt via leasing or via term debt)

Yes he's correct in what he said if you take the rest of what he said into account.

What are they going to do with the rest of the profit after 20% of it is paid as dividend. His comment is fine!

I guess they are building cash for plane procurement thats coming, I guess some of them will be owned as opposed to getting them on Leases

2 things,

1. Who?

2. That's not 6m of sells, that 6m of trades that got tagged as sells because the sells outnumbered the buys in the uncrossing trade, it does not mean 6m shares were sold

Not sure I see the value of listing it or spinning it off. The profit from the holidays business comes with very little capital, the ROCE from that part of the business will make the group ROCE fly. I get the market might pressure it (like HSBC from activist shareholders), but not from EZJ IMO