Hedging holds fuel price high for Air New Zealand
Air New Zealand won't benefit from the oil price slump until the coming financial year, due to fuel hedges locked in at prices well above current rates.Jet fuel represents approximately 25 percent of Air New Zealand’s cost base and has a significant impact on company’s profitabil...
New Zealand cruise liners sail through virus outbreak
The cruise industry says it is weathering the coronavirus storm, with passenger numbers holding strong and cruise ships making extra calls to New Zealand ports.While the wider tourism industry has been throttled by travel restrictions, Debbie Summers, chair of the New Zealand Cru...
MARKET CLOSE: NZX50 slumps 3% as investors flee for safe havens
The S&P/NZX 50 Index dropped almost 3 percent as investors fled the local stock market for safe havens leaving dividends behind, after oil prices collapsed following the OPEC meeting on Friday. The benchmark index decreased 334.09 points, or 2.9 percent, to 11,091.81. Within the...
NZX50 slides 2.5% as oil slump spooks investors
The S&P/NZX 50 Index dropped 2.5 percent in early afternoon trading as a slump in global oil prices heightened fears over the strength of the international economy at a time when policymakers contend with the covid-19 outbreak. Australia's S&P/ASX 200 index had its worst opening...
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