Air New Zealand (ASX:AIZ) has forecast pre-tax earnings for the first half of FY25 to be between NZ$120m and NZ$160m, significantly exceeding the NZ$37m pre-tax earnings reported in the second half of FY24.
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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.
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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.
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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.
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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.
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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.
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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.
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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 MoreThursday’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 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 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 MoreThe 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 MoreThe 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 MoreAs 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 MoreAir 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 MoreThe 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 MoreAir 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 MoreThe 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 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 MoreMacquarie 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 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 MoreLike 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 MoreAir New Zealand expects an underlying pre-tax loss of up to -NZ$120m in FY20. There was no update on current liquidity.
Read MoreAir 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 MoreGlobal 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 MoreAs 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 MoreIn 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 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 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 MoreAir 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 MoreHow 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 MoreFirst-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 MoreAir New Zealand has confirmed earlier guidance this week that its first-half profit slumped sharply from a year ago.
Read MoreAir 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 MoreDespite 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 MoreMacquarie 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 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 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 MoreAir 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 MoreCompetition 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).
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DOWNLOAD RESEARCH REPORTSecures binding contract with Tier-1 OEMUS based anode active project gathers momentumMagnis Energy Technologies (MNS.ASX) – MNS is planning an anode active facility in the US and recently announced a binding, yet conditional, contract for the supply of anode active with Tesla. The contract is for a minimum 17.5kt/year with an option to purchase another 17.5t/year. Conditions precedent carry a tight development timeframe, with first production scheduled for February 2025. Site selection is underway and co-locating with an OEM on a brownfields site makes sense. Long lead items have been ordered and detailed engineering and design is expected to commence soon. |
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December Quarterly Report: Q2 FY2023Looking past the rain – there’s a rainbow.TerraCom released their operating results for the December quarter FY2023 with operating metrics being in line with our forecasts. Unseasonal rains in both Australia and South Africa contributed to operational and logistical issues across all mines, however guidance for annual production at Blair Athol is unaffected and highlights the quality of TerraCom’s skills in operational management. We continue to like the stable operating metrics around the company’s Australian operations and see potential for the South African operations to benefit from increased management focus given the rationalisation of operations following the closure of the Ubuntu mine. Corporate Connects overall financials remain unchanged as does our target price of $1.35 share. We maintain our forecast for a fully franked quarterly dividend of 7.5c/share to be paid in the March and June quarters of FY2023. |
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DOWNLOAD RESEARCH REPORTHigh performance synthetic anode & cathode materials Building a US based materials supply chainNOVONIX (ASX:NVX) – is scaling a synthetic anode materials plant in the US and piloting nickel rich cathode material in Canada. Why? China is dominant and growing – 100% of global natural anode and 68% of synthetic anode is refined in China. In short, China controls the global midstream battery chain by controlling 60% of chemical refining, 87% of anode manufacturing, 61% of cathode manufacturing and 73% of battery manufacturing. It is global battery supply and price domination at scale. |
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DOWNLOAD RESEARCH REPORTAntisense Therapeutics (ANP) Taking a Quick Approach to Long COVIDThis report looks at the results of a collaborative study Antisense undertook which looked at the largest protein expression database in Long COVID-19 patients who experienced neurologic symptoms well after the primary or acute SARS-CoV-2 infection was considered over (Groups 1 & 2, with 48 subjects Group 2 comprising a single patient from a different clinical site). The symptoms and others experienced by such patients result in a highly significant amount of illness, possibly more than all primary SARS-CoV-2 infections i.e COVID-19. |
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DOWNLOAD RESEARCH REPORT4Q reveals more focus on profit and cash flow• LBY’s 4Q FY22 quarterly activities update showed continued solid growth in top line metrics, albeit slowing, with GMV of NZ$203m (+26% on pcp) and income of NZ$12.1m (+23% on pcp).
• Net Transaction Margin (NTM) disappointed at -0.5%, due to further increase in credit losses from 4.0% to 4.9% of GMV. However, new fraud and credit risk management tools have seen losses recover materially with NTM back to 1.2% in March and LBY is confident of further recovery in coming months.
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DOWNLOAD RESEARCH REPORTSigns MOU with Ford Company – Kachi is now sold out!Lake Resources (LKE. ASX) – LKE has signed two non-binding MOU’s in the space of 10 days. Ford Company (Ford) has signed an MOU for ~25,000t/year and last week Hanwa, a Japanese commodity trader signed a MOU for up to 25,000t/year. Subject to execution, this is an amazing feat as Ford and Hanwa are prepared to enter into longer-term strategic partnerships with LKE. Commercial negotiations are still ongoing but are expected, especially if Ford & Hanwa inject new equity into LKE, to further de-risk the project financing & thus ensure LKE and Kachi are fully funded. |
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DOWNLOAD RESEARCH REPORTStrategic Vanadium-battery growth with Titanium & Iron earnings resiliencyTNG Ltd is an ASX-listed technology owner and developer of the world-class Mount Peake near-surface vanadiferous titanomagnetite deposit. To unlock value, TNG will concentrate ore from its central Northern Territory mine for processing through its patented TIVAN® process produce three premium quality revenue streams: hi-purity vanadium pentoxide (V2O5) for steel alloys and Vanadium Redox Flow batteries, a quality titanium pigment for paints and a premium steel input with >64%Fe iron ore fines. |
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Promising exploration and development update while SOP prices continue to riseTwo recent gravity surveys have considerably exceeded expectations and revealed potential for extensions to the existing MRE at Lake Throssell, plus a material growth opportunity at Lake Yeo. This reinforces the potential for a multi-decade, Tier-1 SOP production hub based around Lake Throssell. TMG is currently completing work towards the PFS due early 2023, including drilling to start in Q3 2022, evaporation trials and permitting activities. Results from these programs will support the PFS and any future resource upgrade. Benchmark SOP prices have risen to ~US$940/t due to recent geopolitical developments. The Oct 2021 Scoping Study assumed a SOP price of US$550/t and contained a sensitivity analysis showing every 10% increase in price drives a +$144m increase in the project NPV of $364m. The c.70% increase above the Scoping Study thus implies a project NPV of ~$1.4bn. |
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DOWNLOAD RESEARCH REPORTIncreasing our TargetDespite the lower realised oil and gas price, which fell by 5.4% and 19.7% respectively in August, Calima managed to show improvement in its key business metrics. We expect higher production in November due to the contribution by the new Thorsby wells which will be drilled in August/September which will see Calima meet its 2021 production guidance of 4,500 boe/d. |
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DOWNLOAD RESEARCH REPORTEmerging Financial Wealth Advisory GroupWT Financial Group Limited (WTL) is a growing diversified financial services company, founded in 2010 and listed on the Australian Stock Exchange (ASX) in 2015. Its advice and product offerings are delivered primarily through a group of independent financial advisers operating as authorised representatives of WTL under its Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group) dealer group operations. It has around 275 advisers across more than 200 financial advice practices Australia-wide. It also operates a direct-to-consumer operation under its Spring Financial Group brand. |
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DOWNLOAD RESEARCH REPORTImmutep Taking the Fight to CancerIn May 2021, Corporate Connect analyst Marc Sinatra published a comprehensive research report on ASX-listed biotech Immutep Ltd (ASX: IMM). So impressed was he with IMM that Corporate Connect felt it imperative that a follow-up report be released placing a valuation on the company, because the market was not seeing the vast potential of eftilagimod alpha (efti). This follow-up report has been released today. Using comparables, after adding cash back to their EV estimate and dividing by the total number of issued shares, Corporate Connect now places the fair value of an Immutep share at $A2.20. |
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DOWNLOAD RESEARCH REPORTMarket leading lifelong learning platform technology company in Australia and SE AsiaPayGroup (PYG) delivers multi-country BPO services and cloud SaaS HCM solutions, assisting companies to manage employees in multiple, complex jurisdictions. The company has many growth opportunities, including new clients, new jurisdictions, new products, partner expansion, and new revenue sources. PYG’s scalable business model allows operating leverage and with savings from in-housing third party technology, support margin expansion. |
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DOWNLOAD RESEARCH REPORTMarket leading lifelong learning platform technology company in Australia and SE AsiaOpenLearning (OLL) is a higher education technology company that operates a scalable online learning platform through a software-as-a-service (SaaS) business model and provides a global marketplace of high quality courses for learners of all levels. Its primary customers are education providers based in Australia and South-East Asia (primarily Malaysia). OLL started operations in Australia in 2012 and expanded to Malaysia in 2015, Singapore in 2018, and recently also Indonesia. |
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