Menzies(john) Share Discussion Threads

[papagai3] 08/6/2020 18:24

Swissport sends two Belgian subsidiaries into bankruptcy

Two Belgian subsidiaries of Swissport have been unprofitable for years. Now the flight service provider stops financing.

Brussels Airlines loses handlers before restart
On June 15, the Belgian Lufthansa subsidiary will start its flights again. Only ten days before, Swissport Belgium filed for bankruptcy - and with it the handling agent of Brussels Airlines.

You are looking for a replacement, the restart is not at risk.

[papagai3] 08/6/2020 18:14

“Announcements by a large number of European countries about the opening of the internal Schengen borders by mid-June followed by wider openings in early July have given confidence to airlines to operate throughout the network and to passengers to book flights. The focus must now be on supporting this return to growth with coordinated and consistent measures across Europe which according to our analysis could allow us to return to 80% of expected traffic by the end of the year.”

Eamonn Brennan
DIRECTOR GENERAL, EUROCONTROL
According to a EUROCONTROL analysis, if operational procedures and national restrictions were fully coordinated fully across Europe, July could see 32% of flights resuming with 50% by August. However if measures are uncoordinated, these numbers will be much lower.

[kaos3] 08/6/2020 13:39

or 350

PS looked up weekly chart - rising with the highest vol towards the gap on the weekly chart at 270p 12 weeks ago

[tole] 08/6/2020 13:34

Plenty more to come. Am sure it's just lining up it's move when the seller clears to gap fill on the chart back to 200p

[nw99] 08/6/2020 08:26

Been fantastic 80 to 151

[rastamouse] 08/6/2020 08:26

What a disappointing stock...

[nw99] 08/6/2020 08:22

Sellers back

[nw99] 08/6/2020 08:20

Yes plenty of volume for our seller to sell into

[jock363636] 08/6/2020 08:07

We have lift off

[buffettjnr] 08/6/2020 07:39

This was crossed on Thursday. Let’s say they sold a further 700k shares on Friday, they have likely less than 3m shares to go, £4.5m. If someone cleans this up, there is an easy 30% in the trade.

[nw99] 08/6/2020 07:16

Kabouter still selling 4% to go should be a good buy in next 2 weeks or so

[rastamouse] 07/6/2020 13:26

£4.00 target here...

[nw99] 06/6/2020 13:19

Interesting thank you good news

[papagai3] 06/6/2020 12:46

Menzies does hiring staff again
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[buffettjnr] 06/6/2020 12:44

Completely agree

[jsforum] 06/6/2020 12:32

Looking at the MNZS client list there must be parts of the business still operating such as Qatar Airways, Cathay & Vietnamese Airways, Air Canada They laid off 40% of the workforce although hope to reinstate some as airlines recover As the number 2 logistics operator in the world I'd expect to see a degree of consolidation in the sector Based the above I think a short term price target is 300p with a stretch target of 350p

[papagai3] 06/6/2020 11:04

AMI moves to new Brisbane facility ahead of airport expansion
05 / 06 / 2020
By Damian Brett


Airfreight wholesaler Air Menzies International (AMI) has moved its Brisbane operation to a new purpose-built facility within the Brisbane Airport Industrial Park development as it prepares for the opening of the airport’s new runway.

Compared with AMI’s previous building, the new facility offers an increase in warehouse space, improved docking space, and new customs bond and quarantine areas.

The move will coincide with the opening of Brisbane Airport’s second runway, which will commence operations on July 12.

In total, the airport will spend A$3bn upgrading the airport, including improvements to the transport infrastructure around the airport.

Sonya Ashcroft vice president operations, Asia Pacific for AMI, said: “AMI has been located around Brisbane Airport for over 20 years, so to be able to move to a new state of the art facility within Brisbane Airport Industrial Park development was an ideal move for AMI. This significant investment was required for us to be able to upgrade our capabilities and continue to assist all our customers and agents, complementing the wider investment BAC is undertaking.”

AMI chief executive Jonathan Clark added: “The facility is a massive improvement in size and infrastructure to what we had before. This is now the third brand new facility we have moved into over the last two years following on from the successful developments in Melbourne and Perth.”

[jock363636] 05/6/2020 20:04

Wow can I have your crystal ball that allowed you to get out just before the Covid situ kicked in. You are filtered you sad weasel.

[1gw] 05/6/2020 19:49

But the issue on 27th March was that mnzs was not eligible for the CCFF financing. Has that changed?

[jock363636] 05/6/2020 19:36

Yup it's a sign of a strong forward thinking company

[rastamouse] 05/6/2020 19:24

Most of the airline and other business have approached the Government for financial assistance. MNZS is not unique in this situation.http://news.sky.com/story/coronavirus-airlines-among-businesses-given-bank-of-england-bailouts-12000568The point being that all these businesses will recover (with government assistance).These prices are at historic lows, and from this level any recovery is a minimum double of the share price from here.I have a target price of 3.55.AIMHO

[buffettjnr] 05/6/2020 19:22

Things have improved since the trading update

[thisdawg] 05/6/2020 19:09

They were playing the game imo ... If anything it’s a good thing that they dropped staff early and were proactive in finding funding

[1gw] 05/6/2020 19:05

I keep an eye on MNZS and this thread, having been in for a lot of the last 10 years, although out since 31st Jan. While it's fine to be optimistic, recent posts read like everyone has forgotten the plea for government help in the 27th March TU. This TU was issued after the annual report was signed off on 10th March. In the AR they discussed going concern and concluded at the time that they should present the accounts on a going concern basis, something the auditors signed off on. At that time though, the Covid-19 impact was being felt mainly in relation to China/Macau. The 27th March TU updated the market that things had got a lot worse since then.

The TU included the following:

"Following the Group's preliminary results announcement for the year ended 31 December 2019 (the "FY19 Results") on 10 March 2020, the impact on our business of the spread of the COVID-19 virus has increased significantly and extended across all of our international operations."
...
"We are engaged with the UK Government as we attempt to secure some of the emergency funding announced by the Chancellor of the Exchequer and await the refinement of the eligibility criteria for the COVID Corporate Financing Facility (CCFF) which we currently do not currently qualify for."
...
"John Menzies plc has existed since 1833 and been listed since 1962 but never have we faced such difficult and unpredictable times. Our industry has been one of the most affected by COVID-19 and we are doing everything we can to reduce costs whilst looking after the needs of our employees."

"I now look to our Government to support our business and for them to provide the support required to help the UK aviation sector to navigate this crisis. For the aviation supply chain to function it requires a strong inter-reliant chain of airlines, airports and service providers. Without these three components of the supply chain, working together, the sector will not function. Handlers such as Menzies are therefore essential to the recovery and future success of the UK and global aviation industry."

[jock363636] 05/6/2020 18:32

I agree it's now my largest holding