Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Airlines Moving in the right direction its a good start . Lets keep it going now .
TUI, up 3.5%. The Anglo-German travel operator said it is now ready for holidaymakers from all markets, with Cyprus, Portugal, Greece, the Balearic Islands, and Croatia to be the first holiday destinations to be on offer. With the summer season underway, the package holiday company said all of its airlines and tour operators are prepared to restart with the first leisure flights having already occurred. TUI noted the ongoing European Commission talks about re-opening travel to non-EU countries soon. Budget airline easyJet was up 4.5% and Irish carrier Ryanair Holdings was up 1.9% in a positive read-across.
Once the long haul air corridors are also confirmed / known , places like Caribbean, Canada and Dubai which indicate August for opening, these countries heavily rely on British & Foreign tourism . This should support / bring SP back inline towards the 280 - 300 hopefully , if the need US airlines to do well, this SP could easily get back above £3 by Friday ,
As i see it , IAG are now generating a revenue this is positive this share price will not be at this level in the 2/3 months . GLA
poorinvestor - IAG have 10b capital to work with , the Qatari's which have 25% stake. Will also step in if required , so Nationalisation a bit way off , lets just hope we keep Covid-19 at bay , the Air Bridges are opened further , Vaccine found year end , and this SP will be NOT as u see today . GLA
Well the fall in SP surprised a few people , What on earth is causing it slip back , mind boggles .
It cant stay down at this level for ever , in for the long haul now . Still hoping it recovers during the week ? who knows where is this going .
SP is dipping right now, no surprise really market struggling in general today , i have know doubt IAG will back nearer the £3 mark this week , after the Up and coming travel restrictions are lifted , possibly touch 3.15 -3.40 by Friday ? GLA
i thought BA had 10B cash reserve ? , so this fundraising if it happens shouldn't really impact the SP to much , in fact it should be seen as positive move . Once the Air Bridges are announced this should support the SP further. GLA
Level Europe is owned by Vueling which is ultimately owned by IAG but it should not be confused with Level which is an airline directly owned by IAG.
The airline has been in operation for less than 2 years having started in July 2018.
this news will only support WW in his discussions with Govt and Unions, if they had opened Air Bridges, not had this silly 14 day quarantine rule who knows , they could have still been solvent , clear message sent Out here , need to get IAG FLYING !
It seems JLP - Continue focusing on JV's , but cannot Update on BMR on Royalty, next steps etc ..... , when are they looking to to get Kabwe processing as a Revenue Stream - see JLP announcement today .
Strategy in Zambia
Vital to Jubilee Metals' strategy is its commitment to ensuring that there is a significant reduction in environmental hazard and waste left behind from centuries of mining activity, and Zambia is a focal point of concern relating to this mine waste exposure. Using Jubilee's proprietary knowledge and expertise in physical and chemical processing this clean-up can be incentivised by extracting the metals contained at attractive cash margins, before re-depositing the tailings in an environmentally secure tailings facility, minimising the future impact.
Jubilee first established its fully integrated multi-metal recovery and refining operational footprint in Zambia with the acquisition of the multi-metal Sable Refinery, adjacent to the Company's Kabwe tailings resource, in August 2019, marking a significant milestone in the Company's international roll-out strategy as well as widening its commodity exposure. The acquisition served as an entry point for Jubilee into Zambia presenting the Company with a very well-placed platform from which to pursue the various base metal opportunities presented by the country and to begin actively engaging with third party suppliers to develop strategic partnerships as part of the expansion of the Integrated Kabwe Operations.
The Board and Management see huge opportunity to expand operations in the country, particularly in copper where there is a huge supply of on-surface waste material. Jubilee's implementation of its copper strategy is centred around its in-house proven ability to pre-concentrate and extract value from tailings resources. The systematic implementation of the strategy includes; the commissioning of the copper refinery circuit; processing tails owned by Sable Refinery to produce copper cathode; entering into 3rd party ore supply offtake agreements; securing exclusive access to vast surface copper tailings resources. Jubilee is working with the Zambian authorities to review copper tailings in the Country which the Company expects will create a number of opportunities for further expansion of operations in Zambia.
The boss of British Airways today launches an impassioned defence of his plans to axe 12,000 jobs and cut the salaries of pilots, cabin crew and other staff.
Writing in The Mail on Sunday, Alex Cruz hits back at the stinging criticisms he has faced from MPs and trade union officials over the past seven days.
He accused unions of 'scaremongering' and described criticisms levelled by MPs as 'partial and parochial'.
The MoS can reveal that Tory MP and Transport Select Committee chairman Huw Merriman is lobbying the Treasury to ban companies such as BA from announcing redundancies while their staff are on furlough and the taxpayer is funding their wages.
Merriman said he will this week ask for a meeting with Rishi Sunak to ask the Chancellor to close the 'loophole' in the Government's job retention scheme and force BA to wait until later in the year before proceeding with any redundancy plans.
Meanwhile, unions have accused Cruz of exploiting the Covid-19 crisis to enact a 'fire and rehire' strategy.
They claim that BA is exaggerating its cash crisis and using the pandemic as cover to bring back the bulk of employees on reduced terms and conditions.
In an escalation of the increasingly acrimonious row, Cruz rejects all the allegations, explaining that BA will 'emerge from the Covid-19 crisis a much smaller airline' laden with 'hundreds of millions of pounds of new debt' which will 'swallow' its revenues.
He writes: 'To suggest we are focused on anything but our immediate survival in the short term, plus a sustainable and competitive re-emergence for the longer term, is not true.
Select committee call for scrapping of 14 day quarantine rule , but also Question BA behaviour on redundancies ? Very difficult to gauge where the SP will go on Monday - Fingers crossed UP .
British Airways' treatment of staff 'is a national disgrace', claim MPs as they accuse airline of a 'taking advantage' of coronavirus crisis by cutting up to 12,000 jobs
The Commons Transport Select Committee announced BA have cut 12,000 jobs
The aviation company also received £35million from furloughing 22,000 staff
Tory MP Huw Merriman said it is a 'wanton destruction of a loyal workforce'
The report also called on the Government to scrap the 14-day quarantine rule.
MPs have slammed British Airways for the treatment of its staff during the coronavirus pandemic, branding their behaviour 'a national disgrace.'
Several aviation companies across the world, including Ryanair, easyJet and Virgin Atlantic, have been making staff redundant due to the lack of air travel caused by the global health crisis.
But the Commons Transport Select Committee announced that, despite job losses in the airline industry being inevitable in the current climate, BA cut 12,000 jobs and downgraded the terms and conditions of the bulk of its remaining employees.
The cross-party committee also discovered that the company received £35million from the Government as of May 14 by furloughing 22,000 staff.
The commitee report said: 'The behaviour of British Airways and its parent company towards its employees is a national disgrace.
'It falls well below the standards we would expect from any employer, especially in light of the scale of taxpayer subsidy, at this time of national crisis.'
British Airways had previously said it would be doing all they can to 'sustain the maximum number of jobs'.
Committee chair and Tory MP Huw Merriman said: 'We will continue to bring pressure where we can, including the airport slot allocation process.
'This wanton destruction of a loyal workforce cannot appear to go without sanction by Government, parliamentarians or paying passengers who may choose differently in future. We view it as a national disgrace.'
Unite general secretary Len McCluskey added: 'The case the company makes for sacking 12,000 and trashing the wages of those who stay on the workforce is full of holes because it is a transparent effort to generate profits out of a crisis.
'BA is fooling nobody. Never before has the country witnessed such wholesale mistreatment of a UK workforce and such brutal industrial thuggery.'
The committee report also called on the UK Government to end the 14-day quarantine rule at the end of June.
The government rule began on Monday and is expected to cost the UK economy £650million. Several aviation companies, including BA, are set to legal action against the Government.