I'm sure the management will be fuming that the SP is slammed right back into the gutter, but there was no shortage of warnings from shareholders (including myself) dating back more than a year that being listed on the sewer that is AIM was going to have them covered in **** at some point,so the blame is squarely on their heads (and even if they profess an intent to list in the US, they resisted too long with heads in the sand, and now, I suspect events will mean it never happens anyway)
I don't have level 2, but presumably the book is just overwhelmed day after day with the amount of stock for sale. It makes my head spin to conceive how useless woodford and Invesco are to be selling down here (even if it is partly hedged).
The potential for a PE/management buyout has been there for a while, but I struggle to see that as a silver lining to the current terrible SP, as it just reduces the takeover price that would be offered, as a premium over the pre-bid SP.
They certainly need to have a clear out if the UK branches are anything to go by; Premier hardly differentiated at all, (compared to when I was in Hong Kong and Switzerland). Grumpy old birds on the booths, if they're younger and an ethnic ethnic minority - then hired as a manager - overly familiar and generally unhelpful. In my local branches, a man free zone.
I think a bit of kitchen sinking from Quinn for his debut, but the lack of progress is depressing. Holding but not buying more.
RE: Joe ,I was about to say the same thing when I noticed09 Aug 2019 09:37
Sage - only 28% of the UK pilots are daft (the percentage that have actually voted to strike), so they are on a hiding to nothing - Ironically, I think their woefully ill timed industrial action will only strengthen Ryanair, with BALPAs action going off a damp squib, making unions look weaker, and Ryanair look stronger than ever. I think Faro was about the cabin crew voting to strike, and while they are certainly overworked and underpaid, sadly they can be replaced very quickly.
What are the banks and bond holders likely to do with the airline once they have majority control - asset/slot strip it, or keep it running over the winter? Personally I can't see them being interested in keeping it flying, particularly after it was found to be of minimal value.
But a pill is supposed to make you feel better in the long run. All other indications are that this is a poison pill for shareholders, and that they are the sacrificial lambs, so that PF and TC employees can keep their jobs, and Fosun get their love interest.
If we're talking intra-day lows, the first bottom was set at 9.60 on 16th Jan. But yes, if it closes here, then the chart looks pretty negative. Not that I put much store in such things. On our measures, it's looking real cheap.