Member Info for Davius62

Not all bad news from the sector...

Jet2 rose 0.9% after saying it is maintaining close dialogue with fuel suppliers and airport partners to manage supply risks as the Iran war weighs on the sector.

The company noted booking patterns have shifted, with customers booking closer to departure since the conflict began. Despite this, passengers booked to date are up 6.2% year-on-year, with summer 2026 capacity 7.7% higher at 19.9 million seats.

Jet2 said 87% of its summer fuel requirement is hedged. For the full year, it expects operating profit between GBP435 million and GBP440 million, compared with GBP446.5 million a year earlier.

Might already have been mentioned, too many posts to go through :-)

Https://bbj.hu/business/industry/transport/wizz-air-defends-outlook-as-fuel-hedging-and-fleet-efficiency-cut-risk/

Budapest-based low-fare carrier Wizz Air said it had earlier secured options for a large part of its kerosene needs, shielding it against volatile price changes in a statement issued on Thursday.

“Wizz Air has earlier secured options for a large part of its kerosene requirements, to a greater extent than other airlines, and is protected against rapidly changing fuel prices,” Wizz Air told MTI.

Wizz Air added that more than 75% of its fleet consists of Airbus A320neo aircraft “which have the lowest kerosene consumption per passenger kilometer in the industry”.

Wizz Air dismissed suggestions in the press by Ryanair CEO Michael O’Leary that Wizz Air was among European airlines that could face financial ordeals later in the year if fuel prices remain high, calling the comments “clearly untrue”.

“Wizz Air’s financial position is stable and it has significant liquidity. It finances its aircraft 18 months in advance, allowing for ample competition among financial service providers. This stability is also demonstrated by Wizz Air’s long-standing relationships with leading leasing companies and manufacturers, and the continued smooth execution of its fleet strategy,” the airline said.

"Is it to book a loss for capital gains tax..?"

If you sell and buy back within 30 days that loses the ability to use the trade for capital gains purposes, but it could have been a transfer to ISA, SIPP or similar. Or perhaps it was a rollover (extended settlement trade).

"the process described is open to MARKET MAKERS only"

That's incorrect, it's open to anyone with Direct Market Access (i.e. able to place orders directly onto the order book) which includes market makers, institutional investors and anyone else with access. Some brokers provide DMA to private investors for a fee, others like II don't.

"You may wish to read the highly interesting, informative & intelligent posts from Whites 123 on the ADVFN board."

Good grief, he spouts tens of thousands of words of complete tosh every day, then logs in as other uses to give each of his post an uptick and a comment about how smart he is. You appear to be another one of his many clones. The guy's a loon. A positive loon, but still a loon.

Onwards and upwards here, sold a bunch so now have an average well below a pound in my ISA and still holding all in my SIPP. Worth well over 300p short time I think.

Like Stille I've sold at 1288p and 1290p (SIPP and ISA) but my approach is to only sell half, which brings the average down dramatically, protects against a retrace but also avoids FOMO if they keep rising. To be fair, for the size of my portfolio I was over exposed with about 18% of my pot in WIZZ, so a lot more comfortable from here on with averages under 800p. Let the recovery continue...

And it drops 3% at the open...

"Short position increase suggests, that share price will fall."

Short positions have to be reported to the FCA the day after a reportable threshold is crossed, and can take until the following day to hit the tracker web sites. The data is effectively historic, albeit by only a couple of days.

The two £6m trades at 194p were marked OTC (over the counter) so nothing to worry about, most likely just moving shares between accounts or individuals.

No RNS so presume there's something else spooking this to result in a 5.2% fall this morning. Or perhaps just a reaction to a good run up on a weak start to December...

Doesn't matter now that Wizz appear to have upgraded all of their aircraft but this on the CAA web site:

"We appreciate the impact that disruption can have on customers when flights are delayed or cancelled. This is why there are clear rules in place for airlines to look after passengers. In the first instance, passengers should check with their airline for any expected disruption before travelling to the airport. Airlines have an obligation to look after passengers and refund cancelled flights but given the circumstances it is unlikely that compensation will be payable."

"I don't understand why this is sitting at 20%+ discount to the agreed sale price, should be much closer to 30p, what are the chances that this deal falls through?"

Small but not zero. The market makers do most of the buys/sells so they have little interest in letting the share price rise to say 28p and seeing everyone and his dog unload their holdings, leaving them with serious exposure against that small chance of the deal not succeeding.

I predicted 22p out of suspension, 24-25p after the yes vote, and 26-27p once the $250m hits, two down, one to go..

Poor close sub 25p after a decent afternoon. I think we're all awaiting the $250m Sidara money before we see it sustain a decent rise...

25.59 presumably...

@Scout63 "Looks like it was a no vote. it did not reach a 75% of share value."

That's incorrect, it was 75% of share value of those that voted, not of the share capital of the company.

"MMs can only match a Seller to a buyer, Buyer to a seller"

That is not so. Market makers are obliged to buy or sell shares if they are official market makers in Wood Group. They widen their spread and adjust prices depending on whether they have excess or a shortage of stock, but they don't match deals in the way that a standard DMA trade does. They have to quote a trade size and price, and have no option but to deal at that price if someone wants to buy/sell at the price they've given for the NMS.

AI is accurate in this case:

Normal Market Size (NMS) is the minimum number of shares a market maker is obligated to trade for a given security, ensuring liquidity and protecting investors by guaranteeing a certain level of tradable volume at a quoted price. The size of the NMS varies for each security, depending on its liquidity, with larger companies generally having higher NMS figures. The London Stock Exchange, for example, calculates NMS quarterly based on the security's average daily turnover.

"Could WG aford litigation doyou think?"

I can't see a reason it would come to that, I was merely pointing out that Sidara isn't in a position to simple walk away because less than half the shareholders voted, because the share price is well under their bid price, because it's raining in Aberdeen, or for any other reason. Only a failure of a condition grants that avenue for them.

"It won't go un-noticed that only 40% actually voted at the scheme meeting. Not a resounding endorsement. The Court (or even Sid) might consider that insufficient to be an acceptable result........"

The bid only lapses if one of the conditions are not met. Since one such conditions was a 75% vote which was achieved, Sidara can't consider the low turnout as a cause to walk away. They can't just withdraw their bid, without breaching the takeover code and risking serious litigation.

"Yes but why would the MM's care?"

When a share is primarily controlled by market makers and a buyer goes to one with a large order, the MM will price their spread accordingly. So if I say I want to buy five million shares they will try and drop the price to encourage some selling in order to fulfil the order. Hence if there are shorts trying to close they'll place buy orders which MMs will do their best to satisfy at the lowest price.

This bit lets it down somewhat: "On a No vote, the door was wide open, clean slate, easy pivot."

More likely a No vote the door was slammed shut, D4E and a wipe out for all current shareholders.

Still, all irrelevant and slightly absurd that the constant bickering is still going full throttle. 28p and I'm out, though that won't be until the new year. Probably.