Growing Evidence That The Upturn Is Upon Us
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Originally Posted by ReHeat
For those who are interested (as this thread seems to have evolved that way) what has happened is as follows:......
Regarding shares, if you subscribe the the adage, be fearful when everyone is greedy, be greedy when everyone is fearful, now is the time to buy.
Out of interest, Anthony Bolton (Britans Warren Buffet) has bought HSBC and RBS. Not sure about RBS given what is happening to them but at they could be a winner in the long run once this mess is all sorted out. HSBC has been recommended by others though, it's a shame they aren't trading at under a quid a share.
On the other hand, advice from an certain inventment manager with even more experience that Anthony Bolton is 'now is not the time to try and be clever'. I think Bolton is the wealthier of the two though.
Last edited by ChrisLKKB; 21st Oct 2008 at 21:56.
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Good news so far, Lehmans CDS turn out to be overstated and WaMu's may go the same way
UPDATE 1-Fears about Lehman CDS deadline overstated | Markets | Markets News | Reuters
alternative story
Lehman's massive credit default swaps settle smoothly - MarketWatch
however (before WWW beats his keyboard up)
UPDATE 1-Fears about Lehman CDS deadline overstated | Markets | Markets News | Reuters
alternative story
Lehman's massive credit default swaps settle smoothly - MarketWatch
however (before WWW beats his keyboard up)
Still, there are more companies at risk of default and more debt outstanding than in several years, and credit-default swaps may cause continued headaches for credit markets, said John Atkins, a fixed-income analyst at IDEAGlobal.
Going forward "workouts can be much more convoluted," he said. "This doesn't mean things can't go wrong."
Going forward "workouts can be much more convoluted," he said. "This doesn't mean things can't go wrong."
Last edited by ChrisLKKB; 21st Oct 2008 at 21:33.
The bad news continues..
Hi all,
I don't know if this is common knowledge yet however it seems Monarch are the next airline to reduce pilot numbers, following easyJet's foot steps in letting their newest pilots leave the company. Around 20 guys and girls who came from CTC are being released from the LGW base.
S88
(source: colleague who works in MON Flight Ops.)
I don't know if this is common knowledge yet however it seems Monarch are the next airline to reduce pilot numbers, following easyJet's foot steps in letting their newest pilots leave the company. Around 20 guys and girls who came from CTC are being released from the LGW base.
S88
(source: colleague who works in MON Flight Ops.)
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Economic troubles hit air traffic
From the BBC:
Airline traffic has fallen because of economic slowdown for the first time in 25 years, according to figures from the Association of European Airlines.
Overall traffic fell 1.1% in September, compared with the same month last year, while domestic traffic fell 12.4%.
Since the early 1980s, only the 11 September 2001 attacks, Sars and the Gulf Wars have caused such declines.
With European countries entering recession, traffic cannot be expected to recover quickly, the AEA said.
The association blamed the "toxic" combination of economic slowdown, declining business and consumer confidence, and fuel-driven price inflation for the fall.
Ulrich Schulte-Strathaus, general secretary of the AEA, said: "In terms of response to purely economic stimuli, these figures are the weakest our industry has seen for 25 years."
Cross-border European flights fell 1.1%, while total international flights were down 0.1%.
Alitalia, Italy's national airline that filed for bankruptcy protection in August, saw traffic fall 25%, more than any other carrier.
Spanair was down 21.1% and Icelandair was down 12.8%.
Airline traffic has fallen because of economic slowdown for the first time in 25 years, according to figures from the Association of European Airlines.
Overall traffic fell 1.1% in September, compared with the same month last year, while domestic traffic fell 12.4%.
Since the early 1980s, only the 11 September 2001 attacks, Sars and the Gulf Wars have caused such declines.
With European countries entering recession, traffic cannot be expected to recover quickly, the AEA said.
The association blamed the "toxic" combination of economic slowdown, declining business and consumer confidence, and fuel-driven price inflation for the fall.
Ulrich Schulte-Strathaus, general secretary of the AEA, said: "In terms of response to purely economic stimuli, these figures are the weakest our industry has seen for 25 years."
Cross-border European flights fell 1.1%, while total international flights were down 0.1%.
Alitalia, Italy's national airline that filed for bankruptcy protection in August, saw traffic fall 25%, more than any other carrier.
Spanair was down 21.1% and Icelandair was down 12.8%.
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Oil dives and Asia tumbles on recession fears
Growing panic over an imminent global recession sent Asian stocks plummeting today and pushed the price of oil down to a 16-month low amid signs that demand for crude is falling.
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Getting VERY close to home
BBC NEWS | UK | Ryanair to close base in Valencia
The real truth is, Ryanair need to reduce capacity.
FTSE standing at 3786 -7.3% down. Any bets for 3500 soon?
The real truth is, Ryanair need to reduce capacity.
FTSE standing at 3786 -7.3% down. Any bets for 3500 soon?
Rumours circlating that GM might file and that the Fed will close the Stock Market just beforehand. iTraxx above 1000. Hedge fund collapses imminent.
Bunker door closing....
WWW
Bunker door closing....
WWW
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I like the spin in that Ryanair statement, they had invested 85 million (the cost of two aircraft)!
It looks like the council achieved what they set out to do - support a Spanish airline. Hardly a surprise.
It looks like the council achieved what they set out to do - support a Spanish airline. Hardly a surprise.
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Market meltdown returns as investors lose confidence
Panic returned to world financial markets today and share prices tumbled as big investors cashed in before a global economic downturn. Confirmation that Britain is in the first stages of recession only added to the sense of fear.
Wall Street plunged at the opening bell, the Dow Jones Industrial Average falling 398 points, or 4.6 per cent, to 8,293 in the first five minutes and the Standard & Poor’s 500 falling by a similar amount as investors ploughed into Treasury bonds.
Wall Street plunged at the opening bell, the Dow Jones Industrial Average falling 398 points, or 4.6 per cent, to 8,293 in the first five minutes and the Standard & Poor’s 500 falling by a similar amount as investors ploughed into Treasury bonds.
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Valencia BASE. RYR
Shutting down VLC is a purely commercial decision, based on exactly what who knows.
Ryanair have anounced four Italian bases in the last month, two of those on Wensday afternoon. More new bases will be anounced in Spring, and there will be airports in Spain that will be happy to takeover where VLC left off.
I think things are quite bad enough as they are. It would probably be more constructive if you post fact, or well supported evidence.
I work for Ryanair and I hope the above helps.
Best Rgds
Shutting down VLC is a purely commercial decision, based on exactly what who knows.
Ryanair have anounced four Italian bases in the last month, two of those on Wensday afternoon. More new bases will be anounced in Spring, and there will be airports in Spain that will be happy to takeover where VLC left off.
I think things are quite bad enough as they are. It would probably be more constructive if you post fact, or well supported evidence.
I work for Ryanair and I hope the above helps.
Best Rgds
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Oh well, looks like no more flying for me for a while..
My usual mount is a shared C182, and the money to pay for the flying comes from profits (if any) made on investments. It's hard to justify the cost of private flying when the capital value of my investments has plummeted by around 40%.
At least, a very kind FTO where I did my IR offered me a relatively cheap rate to fly their FNPT-2 sim, so hopefully my expensively acquired ME/IR skills won't entirely fade away.
Anyone else in the same situation? Not looking for any sympathy, I should have seen this coming.
My usual mount is a shared C182, and the money to pay for the flying comes from profits (if any) made on investments. It's hard to justify the cost of private flying when the capital value of my investments has plummeted by around 40%.
At least, a very kind FTO where I did my IR offered me a relatively cheap rate to fly their FNPT-2 sim, so hopefully my expensively acquired ME/IR skills won't entirely fade away.
Anyone else in the same situation? Not looking for any sympathy, I should have seen this coming.
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Well, at least one airline is doing well http://www.norwegian.no/graphics/Inv...esentation.pdf
PPRuNe Secret Agent!
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Well, at least one airline is doing well http://www.norwegian.no/graphics/Inv...esentation.pdf
They have had a huge capital injection, and furthermore, they don't disclose any margins at all - seems to me as though they are "buying" market share at poor margins.
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seems to me as though they are "buying" market share at poor margins.
Option two, is maintain margin and tough it out, being prepared to contract the size of the company as predators capture market share. Trouble is, as load factors drop, so does the profit while you sit and hope the competition have overcooked it and run out of money.
If I was an airline CEO (thank god I'm not), I'd be spending a lot of time hanging around my competitors dustbins, keeping an eye out for the waste paper and discarded computer disks.