Coronavirus News, AstraZeneca Vaccine, Bowling Alleys and Boeing 747s Retired

The UK death count from the Covid-19 virus is now 45,233. At least that’s the latest figure available because daily reports of deaths have now been suspended because the statistic is now known to be unreliable. Anyone who was identified as a Covid-19 infected person but later died from any cause is identified as a Covid-19 death. The result is that someone who was at death’s door from cancer before infection is counted as a Covid-19 death. Even someone who is run over by a bus is likewise included. This is truly bizarre and the Government has ordered an investigation.

The good news is that a second vaccine candidate looks like it might be effective. This is the one produced by Oxford University and which AstraZeneca (AZN) is gearing up to manufacture and distribute in volume. The share price of the company perked up on Friday as a result based on press reports and rumours although the trial results are not due to be published in the Lancet until Monday. Whether they will really make any money from this product remains to be seen. I only hold a few shares in the company and will wait to see a clearer view before buying more.

The other good news is that bowling alleys and other similar entertainment venues such as casinos will be able to reopen on the 1st August. But there will be restrictions on bowling alleys with only alternate lanes open, players limited to groups of 6 and they will be offered gloves to wear. Also bowling shoes are out.

I always thought the provision of shoes was a bit odd now that everyone is wearing trainers or other rubber/plastic soled shoes as I thought the original purpose was to protect the wooden runway. It seems that bowling shoes also enable the players to slide along the surface but only professionals actually do that. Bowling shoes may now die out.

CFO of Hollywood Bowl Lawrence Keen was quoted by the BBC as saying: “At 50% capacity, the company will still be profitable, albeit just”. I own a few shares in both Hollywood Bowl (BOWL) and Ten Entertainment (TEG) but again I think it is best to wait and see whether the players return before buying more shares.

Other news was the announcement by BA that they are “retiring” their entire fleet of Boeing 747s. With 31 planes they are the largest operator of the planes in the world.

As airline passenger numbers are much reduced from the epidemic impact, BA clearly sees little chance of filling the planes in future, and you need to fill a 747 to make them economic operationally. Boeing 747s were first made operational in about 1970 and unbelievably are still being manufactured, albeit with a lot of updates such as improved engines. They are still in demand for cargo flights due to their large capacity. What’s the price of a good second-hand 747-400? About $12 million, although I suspect prices are falling rapidly.

Memories: I recall the original promotional videos for the plane which featured lots of space to walk around in “lounges” with a bar at one end. In reality they soon crammed in as many passengers as possible and were hence not particularly comfortable, particularly in economy class. Some planes were configured to use the “upper deck” which one reached via stairs and I do recall at least one trip in that location. But the large number of passengers always meant it took a long time to unload and load, with long queues at passport control resulting.  Certainly a plane to avoid for passengers in my opinion even if you were flying business or first class. There was a certain comfort in having four engines in case one or two failed, but aircraft engines improved in reliability over the years so the initial doubts about flying more fuel efficient twin-engined planes soon vanished.

Roger Lawson (Twitter: https://twitter.com/RogerWLawson  )

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