Qantas and Air NZ brace for revenue slowdown
The slides in June 30 profits for both Qantas (ASX:QAN) and Air NZ (ASX:AIZ) signal that the two airlines are preparing for an anticipated slowdown in revenue and earnings for 2024-25.
Read MoreTag: AIZ
Air New Zealand trims earnings estimates amid market challenges
Air New Zealand (ASX:AIZ) trimmed its annual earnings estimates on Monday, citing cost-of-living pressures leading to softer revenue in domestic travel, as well as more competition on its key North American routes.
Read MoreAir New Zealand trims first-half earnings forecast due to weak demand
Air New Zealand (ASX:AIZ) has adjusted its first-half earnings guidance due to persistent demand weakness, as softer leisure travel compounds the weaker domestic corporate and government trends.
Read MoreAirlines’ boom turns to bust as fuel prices soar
In the year leading up to June, Qantas (ASX:QAN), Virgin, and Air New Zealand (ASX:AIZ) all enjoyed a boom, with soaring business, revenues, and earnings as international and domestic travel rebounded. However, the surge in oil and fuel prices has since dimmed their 2022-23 performance.
Read MoreAir New Zealand faces challenges amid rising fuel prices
Air New Zealand (ASX:AIZ) has joined its trans-Tasman rival, Qantas, in warning of the increasing pressures resulting from higher oil and fuel prices.
Read MoreAir New Zealand faces worsening problems with Pratt & Whitney engines
Air New Zealand's growing problems with Pratt and Whitney engines on some of its airliners appear to be worse than initially estimated and could have an impact on Trans-Tasman travel.
Read MoreAir New Zealand Returns to Profitability with Special Dividend Amidst Travel Boom
Benefitting from a resurgent travel industry and ongoing government support, Air New Zealand (ASX:AIZ)has reported a profit and special dividend for the fiscal year ending in June. This marks the airline's return to profitability and its first dividend distribution in three years.
Read MoreTrans-Tasman Tudbuts: DOW, FSF, AIZ
Thursday’s ASX trading session turned out to be a busy one for trans-Tasman stocks, with Downer EDI, Fonterra and Air New Zealand each making headlines.
Read MoreAir NZ Tailspin Continues
Air New Zealand has survived for another year, revealing a loss before tax and one-off items for the 2021-22 financial year of $NZ725 million, significantly deeper than the $NZ444 million the year before.
Read MoreAir NZ Recapitalisation Finally Takes Off
Air New Zealand’s long awaited $NZ2.2 billion recapitalisation plan announced on Thursday will test the appetite of big investors in Australia and NZ for airline and tourism stocks.
Read MoreHits Just Keep on Coming for the Travel Industry
The circumstantial siege that has beset the travel sector since Covid emerged in 2020 shows no signs of letup, just as it seemed some light was breaking through at the end of the tunnel.
Read MoreAir NZ Buys More Time with Government Funding
The New Zealand government has revamped its support for Air New Zealand by a further $NZ500 million and extended the repayment date by almost three years.
Read MoreDelta Clips Travel Stocks’ Wings, Profits
As expected, Qantas, Air NZ and Flight Centre all clocked up losses in the year to June 30 thanks to the continuing impact of Covid and its variants on domestic and international travel.
Read MoreMore Hat-Holding for Air NZ
Air New Zealand remains on government provided life support after the Ardern government agreed to defer the capital raising planned for next month by at least six months to the first quarter of 2020.
Read MoreAir NZ Takes Further Hit as Delta Bites
The suspension of trans-Tasman quarantine-free travel has seen Air New Zealand lift its estimated loss by 20% and drawdown more funds from the standby facility established by the government.
Read MoreAll Red for the All Blacks’ Airline
Air New Zealand is forecasting a big loss for the year to June and a repeat of that loss in the new 2022 financial year – taking the two-year total to around $NZ900 million.
Read MoreAir NZ Bailout on Track, but Longer and Larger
The Australia-NZ travel bubble proposal between has seen a delay to Air New Zealand’s recapitalisation with the national government temporarily boosting the size of its loan facility and extending the timing of the support until late 2023.
Read MoreAir NZ Reports Loss as Expected
Air New Zealand has reported a $NZ104 million ($A97 million) half-year loss for the six months to the end of December and is looking to wrap up its refinancing deal with the government as quickly as it can.
Read MoreAIZ – Macquarie rates the stock as Underperform
Macquarie assesses cargo is currently an important part of Air New Zealand’s revenue for FY21 and appears to be maintaining solid volumes and yields. The broker retains an Underperform rating. Target is raised to NZ$1.15 from NZ$1.05.
Read MoreAir NZ Dips Into Government Reserves
Air New Zealand is moving towards a capital raising by the end of next June after it started drawing down from its $NZ 900 million government credit line.
Read MoreDomestic Rebound Helps Air New Zealand Through Virus Turbulence
Like Qantas, there was a big blob of red ink for Air New Zealand thanks to COVID-19 in the year to June, but unlike its other Australasian rival, Virgin Australia, the Kiwi carrier remains solvent and in business.
Read MoreAIZ – Credit Suisse rates the stock as Underperform
Air New Zealand expects an underlying pre-tax loss of up to -NZ$120m in FY20. There was no update on current liquidity.
Read MoreGrounded Air New Zealand Flags Big Loss
Air New Zealand is slowly re-starting its domestic network but says revenue and earnings for the 2020 year will be ‘’significantly lower than expected” prior to the outbreak of Covid-19.
Read MoreMoody’s Backs “Recovery Prospects” For Qantas, Air New Zealand
Global ratings group, Moody’s reckons Qantas and Air New Zealand are among the best-placed airlines to start the long-haul to recovery from the impact of the COVID-19 pandemic lockdowns and social distancing rules that have all but halted international and domestic air travel.
Read MoreAIZ – Credit Suisse rates the stock as Downgrade to Underperform from Neutral
As a result of actions to cut expenditure, Air New Zealand expects its FY21 monthly cash burn to reduce a further -NZ$50-60m, excluding any benefit from passenger revenue.
Read MoreCost Cuts Not Enough As Air NZ Braces For Big Loss
In a lengthy update to the market Air New Zealand has given a strong hint of how it sees the immediate future for its business – perhaps some more domestic flights, but most international travel will be out until 2021.
Read MoreVirgin, Rex Ramp Up Bailout Pleas
Virgin Australia wants a bailout from Canberra, regional operator, Rex does as well, while Air New Zealand, which last week received a $NZ900 million capital injection from the Kiwi government, has started following its Australian rivals and slashing staff numbers.
Read MoreSingapore Inc Steps Up To Save National Carrier
Singapore Inc has come to the party and bailed out the nation state’s global flag carrier, Singapore Airlines in a $S19 billion refinancing that will stop the crippled airline from imploding.
Read MoreDeep Cuts Loom As Air New Zealand Enters Trading Halt
Air New Zealand had its shares suspended yesterday after it revealed further reductions in capacity across its network as the coronavirus crisis cuts demand for travel.
Read MoreAir NZ Slashes More Flights, Qantas To Follow?
How long will it be before Qantas and Virgin Australia follow the second round of cost cuts and capacity reductions revealed by Air New Zealand yesterday?
Read MoreAIZ – Macquarie rates the stock as Underperform
First-half results were soft, Macquarie observes. Recently downgraded guidance for FY20 pre-tax profit of $300-350m has been maintained. Revenue was in line with expectations.
Read More‘Uncertain’ Air New Zealand Confirms Profit Slump
Air New Zealand has confirmed earlier guidance this week that its first-half profit slumped sharply from a year ago.
Read MoreAir NZ Joins Qantas With Capacity Cuts
Air New Zealand has joined Qantas in cutting capacity to Asia and across the Tasman to counter the impact of the coronavirus, COVID-19 on the airline and it’s estimated as $NZ75 million ($A72 million) cost.
Read MoreAIZ – Credit Suisse rates the stock as Neutral
Despite a downgrade to guidance at the beginning of the year, Credit Suisse notes Air New Zealand continues to trade near its recent peaks and at a premium to the airline sector.
Read MoreAIZ – Macquarie rates the stock as Underperform
Macquarie assesses the FY19 outlook has softened a little, as the airline is unable to pass on higher fuel costs to customers in the current demand environment. The stock offers a strong dividend yield, which is sustainable, given the balance sheet and recent deferrals of capital expenditure.
Read MoreAir New Zealand Downgrades Again, Confirms Boeing Buy
Air New Zealand has revealed a second earnings downgrade for the year. The airline said yesterday its June 30 year earnings could be up to $NZ60 million lower than forecast in March’s downgrade, thanks mainly to higher fuel prices.
Read MoreAir NZ Holds Dividend Steady As Fuel Costs Bite
Air New Zealand shareholders will receive an unchanged interim dividend of 11 NZ cents per share despite the company confirming an earlier earnings downgrade yesterday for the six months to December.
Read MoreQantas Shareholders Spooked After Air New Zealand Hits Turbulence
Air New Zealand sparked a sell-off in airline stocks yesterday after it cut its 2018-19 forecast profit by $NZ100 million, blaming continuing problems with its Rolls Royce engines and softer travel domestic travel conditions.
Read MoreAir New Zealand Rides Airline Boom
Competition might have stiffened in the past year, but Air New Zealand has confirmed that the boom in airline profitability continues in this part of the world (and Qantas will add to that confirmation when it reports its 2016-17 figures on Friday).
Read MoreAir New Zealand Lifts Earnings 20%
Now here is a challenge for Qantas (QAN) as we prepare for its big profit announcement tomorrow morning – will it join Air New Zealand (AIZ) in paying a dividend to shareholders – or rather will the Qantas board have the sense to reward the tens of thousands of loyal shareholders who have sat suffering for years waiting to again received a crumb or two on their investments.
Read More
