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Air New Zealand upgrades earnings guidance for interim 2022-2023
December 9th 2022
Air New Zealand (Air NZ) has lifted its earnings guidance for first half 2022-2023 as a result of robust forward bookings and cheaper fuel. Read More » The company forecasts earnings before tax and significant items for the six months to December 31 will range from NZ$295 million (US$188 million) to NZ$325 million, an improvement from previous earnings guidance, issued in September, of NZ$200 million to NZ$275 million. “Continued strong travel demand across domestic and international networks and a recent reduction in jet fuel prices has accelerated the airline’s financial recovery,” dual-listed Air NZ said in regulatory filings to the Australian and New Zealand stock exchanges. “Ticket sales in the last two months have remained strong as New Zealanders continue to book travel overseas and at home and the majority of our remaining international destinations re-open for passenger travel.” The Star Alliance airline forecasts overall capacity to reach 75% of pre-COVID-19 levels in December. Domestic capacity is predicted to be “just under” 100%, with short-haul at 85% and international at 70%. “Capacity remains constrained and that will continue to impact pricing,” the carrier said.
