The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
But I am having to put you on filter George as you are blocking up this message board with inane ranting that is almost on par with the people you are valiantly trying to silence. As the wise one once said, 'be the change you want to see...'
I think it's to do with the final trades settling after hours and what I often see is that they 'default' to the purchase price (and therefore eliminate a large loss on IAG!). When the final trades are reconciled they finish on the final closing price
What is happening!!!! I thought it was going to hit 40p today so I could spend my paper round money and buy 4 shares!
Perhaps the best advice is to DYOR and ignore the noise..........
Just seen that the Brexit negotiations are making 'big progress' according to the Reuters UK headline.
Do we think this is buoying the SP today as the US airlines are relatively flat compared to IAG, EZJ, RYA today.
Thoughts?
I would also like to hear the rationale especially if the RI is oversubscribed. The SP went ex-rights mid September which included the RI (and assumed that 100% shares would have been taken up). We now know that all the shares were taken up so that removes that risk from the SP. Today's SP is a reflection of the market sentiment of the share including the knowledge that the RI was oversubscribed. So why on earth would anyone think it will drop the RI price?!?
LONDON (Reuters) - British Airways owner IAG ICAG.L announced the results of its 2.74-billion-euro capital increase, saying on Thursday that it sold 100% of the new shares in its plan to help strengthen its pandemic-hit finances.
The funds will be used to reduce debt and help IAG withstand a prolonged downturn in travel, chalking up a first success for new CEO Luis Gallego who took over from Willie Walsh in September.
“We’re delighted our shareholders have supported the capital raise. It strengthens IAG’s financial and strategic position,” Gallego said in a statement provided by the company.
IAG said on Thursday that it sold 93% of the new shares during the pre-emptive subscription period, with demand for the remaining shares available oversubscribed many times over.
The airline group, which also owns Iberia, had already said that its largest shareholder, Qatar Airways Group, which has a 25.1% holding, had undertaken to subscribe for its pro-rata entitlement in the fully underwritten capital increase
Marab - even if I believed you on BA, you're not giving me much insight into the rest of the portfolio ( Iberia, Vueling or Aer Lingus). What about the operating margin on each flight, is that also down, or has that increased as they max out capacity on the reduced flight schedule? Not seeing anything in your argument about cost management either. In fact all I am seeing is a throw away statement with zero substantiation.
Yes these are troubled times for the aviation industry, but if you are going to comment please back it up with something decent.
Marab: "there are not enough BA flights at the moment to make a profit or breakeven"
Please can you share your calculations with the board to so they can make a measured assessment of your statement please.....
OK how do I include a link lol. Here is the other article from MSN news
Airport testing for coronavirus could be introduced within days after a trial of three rapid Covid-19 tests.
The tests, which have been trialled among workers at Heathrow Airport, would ease the quarantine stranglehold on the UK travel industry if successful.
The UK government has suggested it may allow the coronavirus testing trial of passengers in October and transatlantic flights could take-off by the end of November.
Findings from the trials at Heathrow are being evaluated and will be shared with government as ministers consider how testing could provide a safe alternative to blanket quarantine.
The long-term aim of the trial is to understand whether these tests could be quickly and efficiently conducted on large numbers of people outside of a laboratory setting and to ensure they are accurate enough to be delivered in an airport environment.
The trials evaluated different testing methods for accuracy, user experience and practicality outside of a lab environment with a facility ready to begin.
Passengers would have to pay for tests, with a £150 fee discussed.
In testing trials, Heathrow worked with:
Geneme has proposed a test which uses a sample collected from a nasal or throat swab to provide results within 30 minutes. Results can be sent to an individual's phone using an app or to a specified email.
Mologic uses a saliva sample on a test device, which provides a result in 10 minutes.
I-Abra is working with the airport to trial a machine that can accurately identify within 30 seconds whether a person is carrying the disease through a self-administered test.
Heathrow chief executive John Holland-Kaye said: “Testing is the lifeline that the UK’s aviation sector needs to get back on its feet.
"We’ve put some of the most cutting-edge rapid testing technologies into action at Heathrow to see which offers the best solution. If we can find a test that is accurate, gets a result within a matter of minutes, is cost-effective and gets the Government green light, we could have the potential to introduce wide-scale testing at the airport.
"Every passenger travelling through Heathrow would have the confidence to know the airport is covid-free, boosting demand and getting Global Britain back to safely trading and travelling with the world again.
"Without this, our first class aviation sector risks becoming second class, giving Britain's competitive advantage to others.”
The trials further complement an existing swab testing-on-arrival pilot, which was unveiled last week.
The scheme, which is subject to government approval, could provide passengers arriving from countries with higher infection rates with a reduced quarantine period if they test negative for Covid-19 twice.
OK my first time posting on this site. Link was removed so here is the opening of the article, found it on Yahoo Finance on the IAG page
Global airline alliance SkyTeam is calling for standardised COVID-19 testing before departure to restore international air travel in the wake of the coronavirus pandemic.
SkyTeam and its 19 members, which include Delta Air Lines (DAL), Air France (AF.PA), KLM (KLMR), and China Eastern Airlines (0670.HK), are supporting the enhancement and implementation of testing protocols, both before departure and on arrival where necessary.
The alliance wants to “enable the safe reopening of borders and offer an effective alternative to quarantines,” after COVID-19 travel restrictions have brought the airline industry to its knees.
The move comes after the International Air Transport Association’s (IATA) called for reliable COVID-19 rapid testing before departure in order to re-establish global air connectivity.
SkyTeam said they believe scalable and reliable rapid COVID-19 testing, implemented in cooperation with local airport authorities and governmental bodies, will enable borders to reopen safely “while offering customers greater peace of mind.”
Sharing this article I just came across. I think leveraging the alliances to push the need for rapid testing will help accelerate it's adoption by govrnments.
https://uk.finance.yahoo.com/news/global-airline-alliance-calls-for-rapid-covid-19-testing-to-restore-air-travel-103808063.html
Also worth of note that IAG is holding up better than EZJ, RYA, LHA in today's trading.