Air New Zealand willing to resume charter flights to Vanuatu
By Edwin Mitson June 21 (BusinessDesk) - Air New Zealand is willing to begin charter flight operations to Port Vila in Vanuatu following temporary repairs to the runway at Bauerfield. In an e-mailed statement, it repeated its view that it would only resume a scheduled serv...
Fitch keeps Kiwibank on negative watch pending shareholding decision
By Edwin Mitson June 20 (BusinessDesk) - Fitch Ratings has kept state-owned Kiwibank on negative rating watch during its annual review of the lender's credit rating. A negative rating watch means the credit agency is more likely to downgrade the bank's credit rating in the...
Chow Group posts profit of $8 mln after reverse listing
By Edwin Mitson June 16 (BusinessDesk) - The Chow Group, the NZAX-listed vehicle controlled by John and Michael Chow, has posted an unaudited profit after tax of $8 million in its first year as a listed company. The property investor completed a reverse listing by taking o...
NZ hotel occupancy rates hit five-year high in 2015, industry group says
By Edwin Mitson June 16 (BusinessDesk) - Tourism Industry Aotearoa, which represents 140 New Zealand hotels, says occupancy rates hit a five-year high in 2015. The average occupancy rate was 78.8 percent, up 3.1% on 2014. The average daily rate achieved rose $12 to $157, an...
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