Rob Fyfe resigns from Air NZ
This article has a different take on Fyfe's tenure--
These were posted by someone commenting on Plane Talking article.
Of course it seems nowadays even if a company is very well run and making a profit that may not be accurately reflected by a rise in values of the share price.
Wednesday, February 1, 2012
The Market says Rob Fyfe has failed
So the departing CEO of Air New Zealand Ltd [AIR.NZX] is leaving his post at the end of 2012 and being lauded by some as a "rockstar" CEO and the saviour of an airline.
According to the market though he is not.
If we look at the 7 year chart below - the length of time Mr Fyfe has been with AIR NZ -.we can see that the share price has kamakazied to half the value it was when he took over in 2005.
7 Year AIR Chart
Not only that, the share price is an all-time low (see 10 year AIR chart below) since the company was injected with a billion taxpayer dollars in 2002. Hardly the stuff of first-class lay back and champagne flutes.
10 Year AIR Chart
Over its 10 year listing Air New Zealand has had negative returns for investors and the share price was markedly better under Sir Ralph Norris who managed the current structure of the company well through its formative years in the early 2000s.
I know airlines are notoriously difficult to run and it is hard for them to make money but the plaudits and pats on the back for him now are misplaced at best and arse kissing at worst.
And this link--
Fyfe resigns from Air New Zealand | The National Business Review
These were posted by someone commenting on Plane Talking article.
Of course it seems nowadays even if a company is very well run and making a profit that may not be accurately reflected by a rise in values of the share price.
Wednesday, February 1, 2012
The Market says Rob Fyfe has failed
So the departing CEO of Air New Zealand Ltd [AIR.NZX] is leaving his post at the end of 2012 and being lauded by some as a "rockstar" CEO and the saviour of an airline.
According to the market though he is not.
If we look at the 7 year chart below - the length of time Mr Fyfe has been with AIR NZ -.we can see that the share price has kamakazied to half the value it was when he took over in 2005.
Not only that, the share price is an all-time low (see 10 year AIR chart below) since the company was injected with a billion taxpayer dollars in 2002. Hardly the stuff of first-class lay back and champagne flutes.
Over its 10 year listing Air New Zealand has had negative returns for investors and the share price was markedly better under Sir Ralph Norris who managed the current structure of the company well through its formative years in the early 2000s.
I know airlines are notoriously difficult to run and it is hard for them to make money but the plaudits and pats on the back for him now are misplaced at best and arse kissing at worst.
And this link--
Fyfe resigns from Air New Zealand | The National Business Review
Last edited by aussie027; 2nd Feb 2012 at 04:17.
Precisely.
Arse-kissing, naive journalism, and regurgitation of media releases.
Give credit where it is due - but please don't portray little Robbie as some world class visionary.
He so is not.
Arse-kissing, naive journalism, and regurgitation of media releases.
Give credit where it is due - but please don't portray little Robbie as some world class visionary.
He so is not.
aussie027, you quote
Perhaps this excerpt from Brian Gaynor's column in the NZ Herald puts some perspective on things. Brian Gaynor writes on his own behalf and had his own asset management company.
Over its 10 year listing Air New Zealand has had negative returns for investors and the share price was markedly better under Sir Ralph Norris who managed the current structure of the company well through its formative years in the early 2000s.
......Air New Zealand has had a positive sharemarket performance of 38 per cent, including dividends, while the NZX-50 Gross Index has been down 1.3 per cent.
By contrast Qantas has had a negative sharemarket return of 37.6 per cent since October 2005 while the Australian sharemarket has risen by 25.9 per cent, in gross terms, over the same period.
By contrast Qantas has had a negative sharemarket return of 37.6 per cent since October 2005 while the Australian sharemarket has risen by 25.9 per cent, in gross terms, over the same period.
Of course 27/09!!!
If it's in the New Zealand Herald, then it couldn't possibly be incorrect could it???
Brian Gaynor - that well known, incisive, highly successful and well regarded business commentator... you probably read Fran O'Sullivan and nod approvingly as well, don't you....
The gullibility of people never ceases to amaze me.
If it's in the New Zealand Herald, then it couldn't possibly be incorrect could it???
Brian Gaynor - that well known, incisive, highly successful and well regarded business commentator... you probably read Fran O'Sullivan and nod approvingly as well, don't you....
The gullibility of people never ceases to amaze me.
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F*fe's primary objective while in the job was to promote himself, in order to get a better job. Instead of going to the hangar to study maintenance procedures, he preferred to pose on French beaches and polar mountainsides spouting crocodile tears, and seeking further brownie points by extending his "heartfelt apologies for what those other blokes did".
Yes.
Look at Aussie 27's chart.
Incontrovertible evidence - direct from the exchange.
And what is NZ's current shareprice?
Errr - and how profitable is it's international network?
Which sectors, at contribution or positive EBITDA level?
How profitable is it's domestic network?
Where on that network does it really make it's money?
What is its ROIC?
What is it's WACC?
What does the other Rob (who really does deserve the credit for keeping it profitable) think its ROIC should be?
What should it's NPAT really be?
What has it really done in the last 7 years that is truly new?
Certainly until halfway through show off Rob's reign I knew the answers to all those questions... I doubt they have changed much.
And I highly suspect my friend - that you do know not those answers.
You can fool all of the people some of the time...
Look at Aussie 27's chart.
Incontrovertible evidence - direct from the exchange.
And what is NZ's current shareprice?
Errr - and how profitable is it's international network?
Which sectors, at contribution or positive EBITDA level?
How profitable is it's domestic network?
Where on that network does it really make it's money?
What is its ROIC?
What is it's WACC?
What does the other Rob (who really does deserve the credit for keeping it profitable) think its ROIC should be?
What should it's NPAT really be?
What has it really done in the last 7 years that is truly new?
Certainly until halfway through show off Rob's reign I knew the answers to all those questions... I doubt they have changed much.
And I highly suspect my friend - that you do know not those answers.
You can fool all of the people some of the time...
Last edited by tartare; 9th Feb 2012 at 06:21.
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One difference when you compare QF v Air NZ
Government ownership. Thats right, Qantas stands on its own two feet, whereby Air NZ is owned by the poor old Kiwi tax payer.
And oh yes, Fyfe lives next door to John key, That gotta help
Pratt!
And oh yes, Fyfe lives next door to John key, That gotta help
Pratt!
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Ampan
I don't know what he did regarding engineering since being CEO of Air NZ but he cut his teeth on engineering practices in the hangar. As the Engo on No 75 Sqn RNZAF he was not scared of sweating along with his troops or getting his hands dirty (personal observation of actual performance on the flightline).
I don't know what he did regarding engineering since being CEO of Air NZ but he cut his teeth on engineering practices in the hangar. As the Engo on No 75 Sqn RNZAF he was not scared of sweating along with his troops or getting his hands dirty (personal observation of actual performance on the flightline).
tartare
Actually Aussie 27's chart direct from the exchange is showing different info from the figures quoted by Brian Gaynor. Mr Gaynor includes dividends in his figures, the chart you mention does not, you're comparing apples and oranges.
I'm not saying Rob Fyfe couldn't have done better, I was trying to point out that during his time at the helm Air NZ hasn't done badly in comparison to the NZ sharemarket overall nor to how Qantas has done during the same period.
You come across as a bitter disenfranchised person. Did Rob free up your future?
Yes.
Look at Aussie 27's chart.
Incontrovertible evidence - direct from the exchange.
Look at Aussie 27's chart.
Incontrovertible evidence - direct from the exchange.
I'm not saying Rob Fyfe couldn't have done better, I was trying to point out that during his time at the helm Air NZ hasn't done badly in comparison to the NZ sharemarket overall nor to how Qantas has done during the same period.
You come across as a bitter disenfranchised person. Did Rob free up your future?
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Pipkin ... another difference, in 10 years Air NZ will still be around. Qantas ... who knows ..! (and who would have thought)
PS ... wish I could be bothered looking at Qantas's share market perf under AJ. Maybe someone with more time ... ?
PS ... wish I could be bothered looking at Qantas's share market perf under AJ. Maybe someone with more time ... ?
Nope.
I freed up my own future... I chose to leave.
And thank God I did.
It's interesting how anyone who challenges the widely perceived and naive view of Robbie being a visionary CEO is automatically labelled bitter, disenfranchised, disgruntled former employee etc.
A small number of people know the truth - and one day, the full story will be told.
I freed up my own future... I chose to leave.
And thank God I did.
It's interesting how anyone who challenges the widely perceived and naive view of Robbie being a visionary CEO is automatically labelled bitter, disenfranchised, disgruntled former employee etc.
A small number of people know the truth - and one day, the full story will be told.
Last edited by tartare; 9th Feb 2012 at 23:47.
Tartare
Obviously you know more than most on here about how good Rob Fyfe really is. No doubt the truth will come out one day. It's a fact of life that some people are good at making themselves look good due to the efforts of others. Having said that any good CEO is supported by good staff, I'm sure that's possibly true in Rob's case as well.
I have no problem with anyone expressing their view as you have, however to me the tone of some of your posts seem to have a bitter tinge to them. Hence my comment "You come across as a bitter disenfranchised person". My apology if I have gained the wrong impression.
Obviously you know more than most on here about how good Rob Fyfe really is. No doubt the truth will come out one day. It's a fact of life that some people are good at making themselves look good due to the efforts of others. Having said that any good CEO is supported by good staff, I'm sure that's possibly true in Rob's case as well.
I have no problem with anyone expressing their view as you have, however to me the tone of some of your posts seem to have a bitter tinge to them. Hence my comment "You come across as a bitter disenfranchised person". My apology if I have gained the wrong impression.
Thank you for your kindness.
As I sit here looking out at a beautiful sunset across a harbour and a desert, I hope that one day I'll be able to tell my story to all the good people at NZ.
To Rob 2.
To Vanessa.
To Norm.
And Ed - now left.
To all my pilot brothers up the front... listening to the sound of the wind around the jet.
And all the people on the line.
Fly safe.
As I sit here looking out at a beautiful sunset across a harbour and a desert, I hope that one day I'll be able to tell my story to all the good people at NZ.
To Rob 2.
To Vanessa.
To Norm.
And Ed - now left.
To all my pilot brothers up the front... listening to the sound of the wind around the jet.
And all the people on the line.
Fly safe.
