AIR-Air New Zealand Limited

[winner (n)]

H123 pbt was $299m .......H124 between $180m to $230m they say this morning

Included in that guidance 'is approximately $45 million of Covid related credits that are highly unlikely to be redeemed by the extended expiry date.'

So a windfall? I'm assuming released to profit....correct me if I'm wrong.

So it looks like Peak Profits are over .....first half pbt could be only half of last years

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/AIR/419825/404961.pdf

[Waltzing]

they will beat guidance right?

[KW]

H123 pbt was $299m .......H124 between $180m to $230m they say this morning

Included in that guidance 'is approximately $45 million of Covid related credits that are highly unlikely to be redeemed by the extended expiry date.'

So a windfall? I'm assuming released to profit....correct me if I'm wrong.

So it looks like Peak Profits are over .....first half pbt could be only half of last years

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/AIR/419825/404961.pdf

If they've extended redemption out to 2026 how can they book them as profit as 2024?

[winner (n)]

If they've extended redemption out to 2026 how can they book them as profit as 2024?

Good question

Statement a bit confusing .......could also mean that $45m won't be redeemed so are going to refund them .......and this is an expense this year

Goodness knows

Still think I was one of the really lucky ones in 2020 .....had $20k in bookings (family) and in early stages of covid they cancelled a flight so I asked for a refund and got it back in 5 days

[Basil]

You're special mate and they know that

[Ferg]

Luxon took over AIR when it was in good shape ......performance (especially finically) got progressively worse before he decided to give up.

Where is your source for this winner?

[Waltzing]

If its a balance sheet reserve account as a creditor it wont hit the P&L

[Shareguy]

We were meant to fly to Hobart last Sunday at 9am. Got a email at 10.30pm the night before to say our flight was canceled due to engine problems. Very last minute and for a lot of people unfortunately the first they heard was at the airport. Spent an hour on the phone trying to speak to someone but hung up in the end. Ended up going to Melbourne at 6am and then on to Hobart.

I think air nz has some serious issues. Customer service is non-existent. Lots of choice coming to NZ. They have had plenty of time to staff the call centre. We have met plenty of people who are like us very unhappy with air nz. Tired planes and choice coming. Im picking that profits down the track might not be so good and suggest taxpayers should not be funding the risk involved. Is it time for the new government to sell its share.

[winner (n)]

Suppose it's hard to put a $ value on these impacts ....but suppose it's all about trying to keep punters not getting too pissed off

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/AIR/421202/406611.pdf

[Basil]

"Due to engine availability as a result of the P&W maintenance issues, the airline will have up to four aircraft grounded at any one time".
That line jumped out at me.  4 out of 17 of that aircraft type is a lot.  Another headwind for the airline to deal with.

[Waltzing]

like emirate business class in 2025 to europe?

My agent says she can get some hot prices if we book early...

The local agcny was down to 2 people in an upstrairs cubby hole...

now back to full staff levels and in a new ground level office..

[Onemootpoint]

"International air travel rose strongly in September, up +31% from a year ago with the Asia/Pacific region up +92%. Of course the base was very challenged. Compared with September 2019 however we still have some way to go to get back to those levels, but there is a recovery underway."

https://www.interest.co.nz/economy/125168/us-jobless-claims-rise-china-slips-deflation-ping-loses-apple-loses-air-travel

[Onemootpoint]

There was also this last week; shows some of the serious competition for AIR:

The best airlines to fly direct from New Zealand to USA

https://www.nzherald.co.nz/travel/new-zealand-to-usa-top-direct-flights-reviewed/N37IF2QOH5BYBGCAE23UMPTHLU/

[Onemootpoint]

Interview with:

Greg Foran's Air New Zealand flight plan | nzherald.co.nz

https://www.youtube.com/watch?v=UiQzhF0bihE

Around the 9 minute mark 'justification' that passenger prices could be higher but currently 'sucked up' by AIR.

[Onemootpoint]

Stopgap

"The jet couldn't come at a better time for the national carrier as it grapples with the fallout from engine issues.

The airline recently warned of two years of disruptions as it checked for possible microscopic cracks in Pratt & Whitney engines. The affected aircraft are 17 A320 and 321 NEOjets serving Australia, the Pacific Islands and domestic routes."

https://www.stuff.co.nz/travel/news/133302575/why-does-this-air-new-zealand-plane-look-different