Analysts warn of years of turbulence for Air NZ

Analysts warn of years of turbulence for Air NZ
Air NZ’s capacity is facing ongoing disruption from engine maintenance issues. (Image: NZME)
John Anthony
Analysts are flagging years of turbulence ahead for Air New Zealand, with one recommending a sell rating following the airline’s lacklustre full-year result, which was marred by engine maintenance issues.On Thursday, Air NZ reported a before-tax profit of $189m, down 15% on the previous year.In a research note following the result, UBS analyst Marcus Curly downgraded the airline’s 12-month rating from neutral to sell.It stated that the airline’s performance was impacted by aircraft availability and higher non-fuel operati...

More Markets

NZX sits out tech rally, trades flat
Markets Market Close

NZX sits out tech rally, trades flat

"We're not overly blessed with big tech names," Generate's Greg Smith said.

Kiwi sinks to 15-year low against euro
Economy

Kiwi sinks to 15-year low against euro

Kiwi may soften further against euro as traders price in cash rate expectations.

Contact to supply gas under all-of-government contract
Markets

Contact to supply gas under all-of-government contract

Contact Energy has signed an agreement with the Ministry of Business, Innovation and Employment to supply about 1.65 petajoules (PJ) of gas a year, starting from Oct 1.Under the new arrangement, Contact will supply seven years’ worth of gas to some 100 Government agencies and ins...

Seabed miner wants to list on the NZX
Primary Sector

Seabed miner wants to list on the NZX

The mining project has been one of the most hotly contested in NZ.