Page 5 - Andy Bowley News Today

Govt increases Air NZ loan by $600m © RNZ / Dan Cook The government has increased how much money Air New Zealand can borrow, as it defers its plan for a capital raise until September. The national carrier had initially planned to tap shareholders for a cash injection around June. However, the company has delayed that until late September as it assesses recent developments such as the vaccine roll-out, an extension to the airfreight capacity scheme, and the opening of a trans-Tasman bubble. "T...

Governments $600m loan expansion to Air New Zealand comes with a warning 9 Apr, 2021 06:03 AM 7 minutes to read The Government has delivered a $600m loan extension and a warning to Air NZ. Photo / Brett Phibbs The Government has delivered a $600m loan extension and a warning to Air NZ. Photo / Brett Phibbs Aviation, tourism and energy writer for the NZ Heraldgrant.bradley@nzherald.co.nz@gbradleynz The Government is extending its loan facility to Air New Zealand by $600 million but at the same...

Air New Zealand’s monthly cash burn guidance of $65m to $85m suggested the company would have about $400m left of a $900m Crown loan facility it secured at the beginning of the Covid-19 pandemic, they said. The prospect of New Zealands border restrictions loosening, including a trans-Tasman bubble opening, ahead of mass inoculation appeared “increasingly remote”, they said. ALDEN WILLIAMS/Stuff Air New Zealand’s domestic network is operating at close to pre-pandemic levels thanks to N...

Auckland Airport’s international passenger volumes have been a fraction of what they were before Covid-19. Auckland International Airport is expected to post its first loss since listing on the stock market in 1998 due to “a monumental decline” in international passengers as a result of the pandemic. The airport, which reports its 2021 interim results on Thursday, is one of the largest companies on the New Zealand stock exchange with a market capitalisation of $10 billion. But its been ...

The airport's profit has fallen 80 per cent as international passenger numbers drop by around 97 per cent.

Its attractive features have not been missed by the market, as the company has enjoyed strong share price performance over an extended period of time, they said. Still, they didn’t view the stock as expensive, raising their target price for the shares to $70 from $62. “Whilst we recognise its not cheap, we retain an ‘outperform’ rating in light of its growth potential, track record, and high quality attributes,” they said. “Its competitive advantage allows for accelerated market...

Forsyth Barr says Tourism Holdings faces bumpy journey to recovery 13 Jan, 2021 04:00 AM 3 minutes to read Tourism Holdings US operation could recover more quickly than in NZ. Photo / Supplied Aviation, tourism and energy writer for the NZ Heraldgrant.bradley@nzherald.co.nz@gbradleynz Tourism Holdings (THL) profit downgrade late last year capped a disastrous year for tourism-related companies and THL faces uncertain demand in New Zealand, say analysts at Forsyth Barr. They say that wi...