Member Info for TheSpecialist

It was Bloomberg TV. Invariably takes some time before interviews are uploaded for play back but keep an eye on the website...………

Fascinating interview, I would recommend watching if interested in the industry and the effects Covid19...…………...

Interview with M O'Leary Ryanair soon...…………..

Futures lower circa 2%...…......………...

01 May 2020
IBERIA AND VUELING SIGN SYNDICATED LOAN AGREEMENTS
International Airlines Group (IAG) announces that IBERIA LÍNEAS AÉREAS DE ESPAÑA S.A. OPERADORA, SOCIEDAD UNIPERSONAL ("Iberia") and VUELING AIRLINES, S.A. ("Vueling") have signed syndicated financing agreements for EUR750 million and EUR260 million respectively.
The banks involved in the syndicated agreement will ask the Instituto de Crédito Oficial (ICO) to grant guarantees for these loans and the financing is conditional on those guarantees being made available. The arrangement is within the legal framework set up by the Spanish government to mitigate the economic impact of COVID-19.
The financing arrangements have a five-year term, amortising from 30 April 2023, but are repayable at any time on notice from Iberia or Vueling respectively. They contain a number of non-financial covenants to protect the position of the banks, including restrictions on the upstream of cash to the rest of the IAG companies.
Stephen Gunning
Chief Financial Officer

https://uk.advfn.com/stock-market/london/ted-baker-TED/share-news/Ted-Baker-PLC-Appointment-of-Chairman/82279348

https://uk.advfn.com/stock-market/london/glencore-GLEN/share-news/Glencore-PLC-Update-on-COVID-19/82219500

That one (08:07) brought a smile to face ;0

Todays rise totally understandable as the Covid19 macro picture showed signs of improvement over the weekend.

European countries, hit the hardest by the virus published data supporting a slowing growth.

The US stated the coronavirus may be stabilising.

US Futures currently up circa 3.5%.

As we should all be aware, the global pandemic is a fast paced phenomenon and any signs that the current stabilisation is short lived will, no doubt, see a sell off again.

Looking ahead, I would suggest airlines and business linked to leisure (IAG / IHG / TUI etc) will have to be patient as the lockdown restrictions ease. Airline travel, be that national or international, will likely be one of the last restrictions to be lifted to prevent any re-infection issues...…………………..

GL

Opened 209.90p up circa 6%...…………...

I not IAG and TUI in an extended opening auction...…………….

spbhoy - agreed!

My understanding is that the pandemic will be beaten though only truly when an effective vaccine has been identified and the global population becomes inoculated.

How long that takes is open to interpretation.

Johnson & Johnson (the largest healthcare company in the world) have a lead vaccine candidate and estimate it will available to deploy in early 2021.

I would suggest there are many global pharmaceutical companies seeking to identify their own vaccine, therefore I would hope to see a solution well before 2021.

Stay safe!

Both RNS' today IMO have been incredibly sensible.

IAG has now decided to reduce capacity further to approx 90 per cent reduction in April and May compared to 2019 in addition to the dividend suspension.

I also note BA has reached agreement with 4,000 pilots to take four weeks of unpaid leave in April and May with discussions ongoing with Spanish and Irish colleagues of the group.

With regards to the SP, there was no material reaction to the suspension of dividend RNS this afternoon. I would suggest the softening developed directly in line with the US releasing its unemployment figures which in turn sent the US Futures into the red. I note at the time of writing this post he US indices are positive by circa 1.5%.

Where the SP goes from here is open to opinion.

Those seeking lower, wait and see. For those looking for a bounce back to 600.00p wait and see.

IMO, in the short term, the stock like many others is a traders dream. It is moving up and down therefore providing opportunities. If you are looking to invest, then the SP may not be at the bottom, though I'd suggest it is not significantly far from it. With a 52 week high of 684.00p and current SP circa 200.00p, for me, there is long term capital enhancement here.

GL

Breaking News - BA reached an agreement with Unite Union to furlough 36k staff. All staff to be retained on 80% pay and no redundancies.

A sensible response from the board to retain those funds and place in reserve.

Socially unpalatable to pay a dividend in the midst of the current crisis when individuals are losing their jobs and life becomes pretty critical for some...………..

Cancels proposed final dividend ………………………….

My apologies. Tosca Fund decreased holding to 14.5%...…………..

Increased holding to 17%

And only opened up 4.5%...………...