Member Info for winchpete

I agree this is a well run company. I reluctantly sold yesterday after Boris was so downbeat about travel. Jet 2 is essentially a ‘bucket and spade’ airline. What the government did today has effectively destroyed what confidence was left in travel abroad this summer. If the government stops a company from trading and scares off its customers it doesn’t matter how good the management is, the balance sheet can only be covered in red ink. Good luck to those who still hold.

I suggest the Indian variant has spoiled any chances of USA trips this summer.

IAG up on Monday. Not if Boris has anything to do with it!

I think they still own 25%.

Just re-joined SGC with 10,000 at 93.5. Hope I didn't catch a falling knife!

They are buying back $500 million of shares in Q2.

Either needs to achieve the target number of posts or the compulsive behavioural disorder is particularly bad today.

Pokerchips,

It is unlikely they have more idea than anyone else what the SFO will decide and when they will announce their decision. They are simply banking some of their substantial profits and reducing their risk in case PFC include a statement in the results that indicates a deal with the SFO is possible in the short term. I suggest they are still expecting a substantial fine that would damage PFC's reputation and require a rights issue to strengthen the balance sheet. As there are still 6% of shares on loan they have clearly not given up yet.

I am optimistic about the company's prospects overall but until the SFO investigation is concluded, the sp will be heavily influenced by the actions of the shorters. If the results do not include positive news about the SFO investigation I suspect profit taking and maybe more shorting will push the sp back towards 100p.

If PFC announce the results date it will help the shorters plan their next move.

Just like what happened to IAG!

They can't they are in a pre-results closed period.

I've sold up. The reputational damage to this company caused by the interminable SFO investigation is also causing significant financial harm. Despite the fact the SFO has not charged the company with any wrongdoing, it seems PFC has no means of making the SFO put up or shut up.

The SFO and, as a result, the shorters have not given up yet. While it is clear the SFO has not found a 'smoking gun' during its 3 year and 9 month investigation, it is still possible it could find grounds to fine PFC. This is because the company benefited from contracts over a period of a few years years that were secured due to bribes arranged by a former senior manager. Back in January when the sp plunged, an analyst calculated that a 400 million fine would make the shares worth 70p. Just be aware, as those of us who are invested/gambling, that an RNS could appear at any time that will either see a big rise or a collapse in the sp. Heads or tails?

There should be some legal remedy for any company or individual subject to an interminable fishing expedition/'investigation' to force the SFO to put up or shut up. It creates a bad smell about the company that harms its reputation and business as can clearly be seen from the fall in the sp.

The SFO have been investigating PFC since May 2017 and not brought any charges against the company. I suggest they haven't done that because they can't find anything that has a realistic prospect of success. By now they are possibly suffering from sunk cost syndrome and hoping they might get lucky if they keep going a bit longer. They won't want to be embarrassed after putting so much effort into the investigation and will probably quietly drop it when they find a higher profile case to take on.

Beat forecasts by 300 million

I am no longer invested as I think the positives are heavily outweighed by the negatives. IAG is at the mercy of politicians who clearly don't give a damn about massive damage to the the air transport industry which they seem to regard as a price worth paying. I am not expecting international travel to be mentioned in the re-opening plan, especially with the panic about virus mutations. In this case I think we could see 120p as the summer season will probably be lost. If there is some waffle about opening air bridges or vaccine passports 180p could be possible.

I suggest that in most countries involved in the oil and gas industry bribes/commissions/consultancy fees are just part of normal business. Companies that don't play the game don't get contracts. The only crime is getting caught!

As it is reported on this web-site that more than twice as many shares were bought than sold on Friday, why the massive drop?