International Consolidat... Share Discussion Threads

[smithys2019] 22/3/2020 14:43

Not saying it is just, but reduced state pension bill, Healthcare, productivity increases, a solved housing crisis... and at the end of it you can blame the Chinese.

Sort of thing Dominic C would have his otherworldly Brain plotting.

[hamhamham1] 22/3/2020 14:36

Its almost like herd immunity via the back door if one was to be cynical.

[m1k3y1] 22/3/2020 14:07

it is indeed , I agree.

[montyhedge] 22/3/2020 14:04

It's unbelievable.

[montyhedge] 22/3/2020 14:04

https://www.thetimes.co.uk/article/coronavirus-flights-from-italy-iran-and-china-still-landing-3v7363rxr

[hamhamham1] 22/3/2020 14:01

I heard on radio people turning up at UK airports and no checks of any passengers health, I think that's quite well known.

We ask passengers from 3 countries to self isolate for 14 days whenn they arrive but that's it.

"Travellers coming from China, Iran and Italy with symptoms of the virus are supposed to be stopped from boarding.

On arrival in Britain passengers from these countries are supposed self-isolate for 14 days, although there is no way of actually enforcing this policy."

[sr2day] 22/3/2020 13:52

monty,where did you get this information.link please.

[montyhedge] 22/3/2020 13:50

Incredible planes arriving from Italy to U.K., no checks at U.K. airports on passengers.

[loganair] 22/3/2020 13:46

Emirates says it will suspend all passenger flights beginning Wednesday over new coronavirus outbreak.

[m1k3y1] 22/3/2020 13:39

careful......it's going to cost you any way you look at it.

[smithys2019] 22/3/2020 13:39

I smell massive amounts of politics between VS, IAG and DfT here. Just because IAG have met with DfT, does not translate into them asking for a loan. It could be just as well then stating the case they want compensation from government for not letting the market taking its course and buying out virgins landing slots for a quid in 2 weeks when they go bust.

Until IAG release a statement, no one knows.

[m1k3y1] 22/3/2020 13:10

careful....so now you want to punish anyone who has earned an interest on savings greater than 2 % because they deserve it !!!!!

This is not about shareholders geeeees . It is about saving the economy and our society. With no airlines and no airports that are viable businesses you won't have an economy or be able to trade with the rest of the world.

If UK GOV want to own an airline, they can set one up and run it .......OH wait a minute , they have been there and done that and were not very successful at it.

Allow businesses to run their own companies.
Assist them financially if needed at commercial rates.
Otherwise , stay out.

IAG was very successful until various GOV's closed borders and stopped passengers from travelling. So they have a responsibility to help these businesses get through this chaos.

[careful] 22/3/2020 13:03

I do not believe that HMG will be worried about shareholders taking a hit.
BA must be supported but who own it is irrelevant.

what has happened is not BA's fault, but it is not the governments or the shareholders either.

Investors such as myself chose to invest in IAG and spurned the safety of a safe 2% on deposit.
How smart and smug we felt with massive gains on the share price and a fat dividend as well.

So you spent a while in the casino, won big and felt smart.
Now you expect those boring savers and taxpayers to bail you out.

We must grow up, we gambled and won big, but then lost.

[m1k3y1] 22/3/2020 12:55

As I said....let's wait and see what Walsh says shall we.

Anything else is pure speculation and repetitive reporting by Murdochs reporters who have nothing better to say on a sunday.

As for Steve Endacott .........who ?

Turkish Airlines to Buy Back Shares After Approval: Chairman

[loganair] 22/3/2020 12:48

Steve Endacott: It is virtually impossible for airlines to “independently” raise further funding at the moment. Their high levels of debt-to-assets make them very unattractive propositions for the world’s banks, and few pension funds would consider investing in the shares of major businesses that have virtually no revenues at the moment.

The industry needs the Government to launch what I would loosely describe as a “commercial nationalisation̶1;, whereby the Government provides guarantees to underpin a massive equity rights issue, where UK airlines issue more shares to raise billions in new funding.

The Government would have to guarantee to buy any left-over shares, at a fixed low price per share, in order to create certainty about the survival of the airlines. This certainty is what investors need, in order to take a longer-term view and grab shares at a low price, in inherently profitable airlines, that will quickly return to profitability once the corona crisis passes.

A major rights issue might not be popular with existing shareholders, as they will see a massive dilution in earnings per share and their annual dividends when the good times return, and the move will force airlines’ share prices even lower. Similarly, airline bosses may not want to be the ones to give shareholders this harsh message.

The other key benefit of an equity raise is that it does not create a debt mountain that reduces airline competitiveness moving forward, and allows new entrants launched post coronavirus with none of the legacy debt to take their market share. Just look at how quickly Easyjet and Ryanair destroyed the traditional scheduled airline sector, so don’t rule it out.

The Government therefore needs to act quickly and decisively this week, to shore up the airlines and introduce measures to allow the travel industry to defer holidays and not refund, as this is needed to protect all holidaymakers and not just the ones with short -term departures who can reclaim their money.

Sorry customers, but this really is for the common good.

[careful] 22/3/2020 12:46

'the potential part nationalisation, first reported by the financial times yesterday, could trigger the break up of AIG which own the Spanish and Irish flag carriers, Iberia and Air Lingus'

Sunday Times today.

[hamhamham1] 22/3/2020 12:29

I think with the Spanish and EU side, tjey (IAG) won't be able to be so clever as if it was just UK owned.
Iberia will be pressured to follow Lufthansa path by authorities so that the IAG group don't get a competitive advantage over other EU airlines IMO.

[m1k3y1] 22/3/2020 12:13

ham.....Barclays have been cleared of any wrongdoing regarding the Qatar loan, as I understand it.

It seems to me, that IAG can get commercial loans from whoever it likes. GOV can either be a part of that process, or not.

[hamhamham1] 22/3/2020 12:05

To avoid a bailout they would need money similar to Barclays did, and the gov didn't like the way that was done. But obviously it's the way the company would like to go.

[m1k3y1] 22/3/2020 11:52

ham.....I have to go with what Walsh is saying and he says ( so far) he doesn't want GOV bailout.

One thing I have learnt about him over an extensive period of time, is that he knows this business and he is no fool . He will arrive at a way forward that is best for IAG and that includes shareholders. he will also be looking for opportunities from this situation, as you would expect him to do .
Before jumping to conclusions, let's see what IAG say they are proposing as a way forward.

IF they can manage without a bailout, they will be the stronger for it, as and when the recovery begins.

Branson, I think is in a different situation.

[loganair] 22/3/2020 11:49

EU to remove airport slot restrictions until 24 October.

The European Council has approved a mandate to temporarily suspend EU slot usage rules which require airlines to operate at least 80 per cent of allocated slots, or face losing their right to the slot in future seasons – a so called ‘Use it or Lose it’ rule.

“Under the mandate, the waiver will apply from 1 March to 24 October 2020, to cover the entire summer season. It will also apply retroactively from 23 January to 29 February 2020 for flights between the EU and China or Hong Kong. The start date of 23 January is when the first airport was closed by the authorities in China.