Member Info for zccax77

Think those are gross figures. If you view the H1 presentation the head of cruise mentions having gbp 6m of discounts in the rest of 2021. Don't quote me.

Sigmarsson. No, but I have an ADVFN account with the same username.

Might be the 1.2bn rights issue by TUI

Almost all south american countries are red, places like Colombia and Equador have a lower covid fatality rate than the UK since they now have 60%+ vaccine roll-out. Somehow I think this is political or they are afraid of the mu strain.

At the time a lot of the holders did not partake in the offer since they thought the consolidation was a bad idea. They were right to a certain extent since the shares then sank to 120p.

Look at EZJ, I just hope we don't get another RI. Though I think it will likely be fully underwritten by De Haan if there was.

I just wish there was another bid for it. I would let it go for 10 quid.

I think the issue with the UK is the government policies around pumping the housing market since you canny lose with bricks and mortar, whilst in the US they are far more focused on pumping everything.

I find EBITDA to be a good proxy for cashflow, per page 40 of the R&A the EBITDA for tours appears to be -32.9m for the 12m eneded Jan 2021. Therefore cashburn of about circa 3m per month. so over the last last year they have burnt GBP48m (16months*GBP3m) on their tour business.

https://www.corporate.saga.co.uk/media/1378/saga-annual-report-2021.pdf

Banbury I really cannot see how you get your cash burn figure for travel. Per their segmental on page.36 it is GBP36.9m.

https://www.corporate.saga.co.uk/media/1378/saga-annual-report-2021.pdf

Banbury - The 2% reduction in premiums. Is this a 2% reduction in volume of policies underwritten or a 2% reduction in monetary terms? Without actual GBP numbers is it hard to tell. One positive is that their brokerage revenues at 74GBP remains constant.

The monies will be used to fix the bank, think they need £300m.

If they are selling their mortgage portfolio at above book then they in time will need to reverse the £100m covid credit loss provision they booked at H1. Again increasing their CET1 headroom.

They usually pre-sell 65-80%, demand is not the issue!

From what i understand they charge between £225-265 per night and the costs are £110 per night per berth. This does not include depreciation, tax, interest or central costs, therefore more of an ebitda figure. Someone like P&O charge half what SAGA charge.

Not sure why they are spending so much money getting accredited when the vaccine is on the horizon.

https://www.globalcapital.com/article/b1pd8r396xcvl0/mrel-is-a-paradox-for-small-uk-banks

The board are far too blinkered to see this. I hope the large institutional holders can see the correlation versus the rest of their portfolios and vote no. The problem is the PE vultures waited far too long to make an offer and now the market is in a far better place then when they first turned up, if they made this offer 2-3 months ago it would have made sense however at this point in time the AA are no longer in need of a rescue.

The vaccine is almost here and credit market conditions have improved markedly. Therefore I think AA will be able to re-finance on better terms than was the case when the PE interest was initially announced when the market was in a bad place. I hope the institions decline the offer and refinance.

https://www.ft.com/content/e24ef81b-38d1-405c-a692-91f83512f558

Companies hit hard by coronavirus including American Airlines, cruise ship operator Carnival and German flag carrier Lufthansa are racing to raise billions of dollars, taking advantage of market optimism that an effective vaccine is close.

https://news.sky.com/story/revealed-cerberus-in-talks-to-buy-struggling-co-operative-bank-12134851

One insider suggested that Cerberus might seek to pay as little as £200m for the company, which has 3.3m personal banking customers across the UK.

Its current shareholders are said to be reluctant to underwrite the issuance of MREL-qualifying debt themselves.