Air NZ preps for more capital returns

Air NZ preps for more capital returns
Airfares are flying high, along with a lot of New Zealanders. (Image: BusinessDesk)
Pattrick Smellie
Air New Zealand is setting the stage for more capital returns to shareholders over the next two years as it targets a new range of capital management metrics.The national carrier made a down payment today with a special dividend of six cents per share, fully imputed, at the same time as it announced a $1.3 billion earnings turnaround.The rebound from a covid-induced pre-tax loss of $810 million in the 2022 financial year produced a $574m pre-tax profit in the year to June 30, the airline’s second-best-ever earnings performance as it...

More Infrastructure

Authority to investigate 'extraordinary' electricity event
Infrastructure

Authority to investigate 'extraordinary' electricity event

Incorrect pricing used on one of the coldest nights of 2021, high court rules.

John Anthony 01 Mar 2024
Interislander write-offs drive $407m KiwiRail deficit
Infrastructure

Interislander write-offs drive $407m KiwiRail deficit

The half-year result doesn't include the cost of breaking the shipbuilding contract.

Oliver Lewis 29 Feb 2024
Council puts Aussie firms ahead of local experience
Infrastructure

Council puts Aussie firms ahead of local experience

Auckland mayor says council procurement 'doesn’t align' with private practice.

Brent Melville 29 Feb 2024
Tarras airport dreams dead ... for now
Infrastructure

Tarras airport dreams dead ... for now

Christchurch airport is putting the controversial project on hold.

Oliver Lewis 28 Feb 2024