George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
This week's R number is a drop from last Friday's, which was estimated at 0.8 and 1.1.
Looking more closely at the ONS data regarding COVID hospitalisations, it shows admissions decreased in all English regions in the week ending 23 January 2022
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March IAG 2.00p +
2020 Oct 0.93p topped up , been in Iag game quite a long time
10%+ or- not important focus on the big picture
Of course makes a difference we were at 1.25p month ago ,sp touched 1.70p week ago
Sp is bargain at the moment, Feb should be around 2.00p if financials are ok , dyor
Travel firms are bracing for a surge of summer holiday bookings this weekend, with one company predicting it will be the busiest two-day period in its history.
It comes after Monday's announcement that COVID testing for fully vaccinated travellers arriving in the UK will be dropped from 11 February.
Demand has been high in recent days after and holiday sales are set to increase dramatically this weekend as it follows the first payday after Christmas for millions of workers.
Simon Cooper, chief executive of online travel giant On the Beach - which launched in 2004, said he believes the coming days will be "the busiest we've ever been in our history".
4 hours ago
Thai health authorities approved new guidelines today outlining the parameters for declaring the COVID pandemic an endemic disease.
According to official figures, the country already meets the three criteria.
Communicable Disease Committee are made up of three criteria:
-fewer than 10,000 new cases per day
-fatality rate is no higher than 0.1% of those who are admitted to hospital with an infection
-more than 80% of at-risk people have had at least two vaccinations
Currently, Thailand's daily new cases range between 7,000 to 9,000, and the fatality rate, which was more than 3% in the beginning of the pandemic, has declined to 0.1%, and more than 80% of at-risk people have been fully vaccinated.
An hour ago
Travel demand ready to explode , turnovers will beat all expectations coming months
Iag sp can reach 2.50p+ comfortably coming days with new low-cost short-haul subsidiary based in London Gatwick ,existing routes ,transatlantic and cargo divisions
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EasyJet will operate its largest number of flights between the UK and beach destinations this summer as coronavirus restrictions ease.
With sales “performing very well”, the low-cost airline’s capacity compared with 2019 levels will be more than doubled on routes to Turkey and up 36% for Greece according to chief executive Johan Lundgren.
An overall 14% rise in capacity on routes between the UK and beach locations make those operations “the biggest ever” in easyJet’s 26-year history, he added.
Bigblue do you really think IAG debt on a tracker rate :)
They have diversified debt with variable due dates
Interest rate increase will not have any negative effect on traditional-recovery stock IAG SP , might be even beneficial
Financials
Total group revenue for the quarter ending 31 December 2021 increased to £805 million (Q1 FY'21: £165 million). Passenger revenue increased to £547 million (Q1 FY'21: £118 million) and ancillary revenue increased to £258 million (Q1 FY'21: £47 million) primarily as a result of the increase in capacity flown. Ancillary revenue per seat of £14.84 (Q1'21: £10.20) continues to benefit from our cabin bags and new leisure fare bundle delivering incremental income. Underlying ancillary revenue per booked passenger remains strong despite winter seasonality and the impact of reduced ski travel in December due to Omicron.
Group headline costs for the quarter ending 31 December 2021 were £1,018 million (Q1 FY'21: £588 million), primarily driven by the higher level of capacity flown compared to the same period last year. Due to the impact of Omicron, an increased number of standby crew is being held to proactively protect the operation and minimise any impact on our customers from higher crew absence levels. easyJet was the most punctual large European airline in 2021, with the best OTP4, which has continued into Q1 FY'22. Following a successful recruitment process and preparation for our summer ramp up, easyJet will welcome new crew into the business during Q2 to undertake their training.
Headline loss before tax for the quarter ending 31 December 2021 was £213 million, a £210 million improvement compared to the £423 million loss in Q1 FY'21. Included in the Headline loss was a £15 million gain from balance sheet FX revaluations.
Cash burn during the first quarter (seasonally the weakest quarter for working capital) was £450 million (Q1 FY'21: £969 million). This improved performance is despite the removal of furlough across most of Europe and includes delivery payments, as easyJet took delivery of four new aircraft during the period.
During the first quarter easyJet repaid £300 million of commercial paper, clearing the final balance under the CCFF scheme. easyJet has no other debt maturities until the 2023 financial year. As at 31 December 2021 our net debt position was c.£1.2 billion (30 September 2021: £0.9 billion) including cash and cash equivalents and money market deposits of c.£2.9 billion.
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Outlook
easyJet currently has c.67% of Q2'19 capacity on sale. In January, capacity will be c.50% of 2019 levels, which will ramp up as we move through the quarter. Q4 FY'22 capacity on sale remains at near Q4'19 capacity levels.
easyJet is currently c.60% hedged for fuel in the financial year ending on 30 September 2022 at c.US$504 per metric tonne with the spot price as at 26 January 2022 being US$840
We believe testing for travel across our network should soon become a thing of the past.
"We see a strong summer ahead, with pent up demand that will see easyJet returning to near 2019 levels of capacity with UK beach and leisure routes performing particularly well.
"We remain confident that easyJet will continue to win customers and are excited about our plans for the summer as we identify further opportunities at our key bases which, alongside our step-changed ancillary offering, will deliver strong, sustainable shareholder returns."
Capacity
During Q1 easyJet flew 64% of FY'19 capacity which was broadly in line with the guidance provided and a significant increase on the same period last year where easyJet flew 18% of FY'19 capacity.
Load factor was 77%, rather than over 80% as guided, due to the impact that Omicron had on customers' confidence and ability to travel during December. easyJet saw significant levels of late flight transfers out of December due to travel restrictions and concerns over Omicron. These customers have used our customer friendly policies to re-book easyJet flights which will have a positive impact on load factors, revenue and customer retention in future periods.
Passenger1 numbers in the quarter increased to 11.9 million (Q1 FY'21: 2.9 million).
Trading statement for the quarter ended 31 December 2021
· Q1 loss almost halved year on year alongside significantly reduced operating cash burn
· Omicron impacting bookings in the short term
· Increased bookings seen post UK Government decision to remove all travel testing requirements
· Q4'22 on sale capacity unchanged, remaining at near 2019 levels
· Ancillary transformation continuing to deliver higher returns
Summary
easyJet's first quarter financial performance was in line with management expectations despite the changing environment which saw increased travel restrictions at the end of the quarter in response to the Omicron variant. October and November saw improved performance as load factors continued to strengthen, with both months above 80%. Omicron paused this momentum which resulted in load factors declining during December. easyJet expects that Omicron will continue to have an impact over short term performance in Q2.
Following the UK Government's announcement on 5 January to remove pre departure testing, easyJet has seen a sustained step change improvement in booking volumes. On 24 January, easyJet welcomed the news that the UK will see restriction free travel from 11 February which has provided a further boost to bookings which we expect will continue to have a positive impact on sales going forward. Since 5 January, other countries, including France, have subsequently followed suit by relaxing restrictions, which is a welcome step closer towards restriction free travel across the whole of Europe.
Q4 on sale capacity is at near 2019 levels, with easyJet's leisure flows expected to see strong demand this summer, in line with previous expectations. While customers continue to book closer to departure and visibility remains limited, booked ticket yield to date remains encouraging for Easter (which falls within Q3) as well as into the Q4 summer period. easyJet holidays also continues to strengthen its position as a significant player in the holidays market, with over 50% of the programme sold and stronger margins compared to 2019.
Commenting, Johan Lundgren, easyJet Chief Executive said:
"easyJet produced a significant year on year improvement in the first quarter, despite the short-term impact of Omicron in December, halving losses and cash burn compared with Q1 21 alongside driving higher returns from ancillaries.
"During the pandemic, easyJet has transformed many areas of the business including optimising its network and flexibility and finding sustainable cost savings. This is helping partially offset inflationary pressure, while also step-changing ancillary revenue, which is delivering for us now.
"Booking volumes jumped in the UK following the welcome reduction of travel restrictions announced on 5 January, which have been sustained and then given a further boost from the UK Government's decision earlier this week to remove all testing requirements. We believe test
London's FTSE 100 was up 1.9% at 7,511.55 in afternoon trade on Wednesday.
British Airways and Iberia parent IAG was the standout gainer on the index after the government confirmed it will scrap Covid tests for double-jabbed travellers to England.
The shares also benefited from some upbeat commentary from Stifel, which stuck to its 'buy' rating on IAG and said it remained one of its top picks in the sector. Stifel highlighted strong post-corona fundamentals and "unfounded" capital increase concerns.
Just thinking possible interest rates or oil price increase effects on IAG
Oil price inflation should slow down after an interest rate increase, if not airlines can adjust ticket prices accordingly consumers won’t even notice
Iag is one of the biggest player, will be more flexible over mid to smaller scaled players
Travel demand ready to explode ,consumers are eager to travel and increase won’t stop anyone since prices will be affordable anyway
Can give an extreme example from our shipment operations;
Before covid we ship 20ft container from China to UK for 1.200usd
Two days ago I have paid 11.000usd! for a 20ft container from China / Yantian port to Felixstowe
If someone told me container prices will be like this 20 months ago…
Iag is recovery stock not a start up or tech stock already sp is at the very bottom , interest rate increase also shouldn’t have any negative effect on conventional - recovery stocks
Imo neither oil price or interest rate increase shouldn’t have any negative effect on large scaled airlines
Shorters stay away from IAG :)
Hedge funds have been cranking up their bets against sustainable energy stocks, wagering that as interest rates rise, investors will be less forgiving of companies with strong environmental credentials but weak earnings.
Shares in sustainable stocks have drawn in billions of dollars of inflows from ethically minded investors in recent years, lifting the valuations of some stocks to eye-watering levels.
In a bear market, a company doesn’t trade at 60 times earnings just because it does something morally good,” said Barry Norris, chief investment officer at Argonaut Capital. “People will be a bit more hard-nosed about it.”
Ft
Bobbins you made me laugh out laud mate :)
Been a rough couple days especially yesterday when got almost 50k loss from profit but got used to IAG roller coaster .
Did a lot day trading short-long between 125 to 140p so far not planing to start day trading from these levels . Still holding all my shares hopefully sp will continue to climb
Curiously waiting year end financials…
Guessing you are fully loaded with Iag shares , good luck to all shareholders