With 3.368 billion shares now on issue there is a lot of work to do for a return on capital. A 1cps dividend would require $33,684,301
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With 3.368 billion shares now on issue there is a lot of work to do for a return on capital. A 1cps dividend would require $33,684,301
And after the exemplary baggage handling on the first NZ1 to Auckland we have the sequel - flight diverted to Fiji.
If they are true to their recent form, PAX will probably be told to find their own accommodation and denied compensation
The twin-engined planes, although more efficient than their predecessors are struggling to fly the route apparently in certain weather conditions.
This is common practice in the industry. Many a passenger on Queer and Nasty's DFW MEL service have been surprised by a landing in the lucky country at BNE instead because of fuel endurance issues.
Long duration flights require lot of fuel and then even more fuel to carry this extra fuel. Fuel endurance on these flights is so close to safety margins a sparrow farting in front of the aircraft can cause a fuel diversion.
This issue should not cause people to freak out, though a bit of honesty from airlines about the likelihood of diversions and the risk of baggage off loads would be helpful.
Boop boop de do
Marilyn
No, definitely normal for plane to make tech stops, in fact I'd rather enjoy the experience, if I were homeward bound and don't have any commitments lined up on my return LOL.
We've had the exact same experience with multiple airlines including AIR.
One memorable one was NZ8 SFO-AKL.
After sitting on plane at the gate for 2 hours I watched as our bags were offloaded apparently due to a mechanical issue that ground-crew at the time refused to fix due to a strike. The airline had tried to put the entire aircraft up in a hotel, but couldn't due to lack of availability so a decision to continue the flight was made. Most baggage and fuel was offloaded but looking out the window an argument between the fuel truck driver and one of the ground staff was visible. It turned out the truck wasn't large enough to offload the fuel required, so another truck was bought in. Four hours later at 1am, the flight left SFO headed to Fiji (without baggage), given approval to land in HNL to refuel was declined.
We landed in Fiji and another argument ensued between the security staff, one of which wanted to screen all passengers before entering the terminal, while the other argued there was no point because the flight arrived directly from SFO and hadn't made any stops. They battled it out for approximately 10 mins before someone else just open the door and let everyone through. We eventually landed in AKL some 12 hours late.
The airline handled it as best they could. We received food vouchers for Nandi, and extra meals were served on the plane, including while we waited at the gate. Our bags were delivered directly to our house by airport staff the following day.
These unforeseen issues occur reasonably frequently, so it's not worth getting worked up about it.
"‘It was wonderful’: Eviation’s Alice electric airplane wins praise after its first flight test"
https://www.geekwire.com/2022/eviati...t-flight-test/
https://www.nzx.com/announcements/399605
Potential bond offer to replace existing bonds maturing 28/10/22
Kiwibank changing the Airpoints Credit card benefits - was 1 AP per $85 spend - now 1 AP per $115 spend.
I am not sure if this is a KiwiBank initiative or Air NZ tightening the belts and reducing Airpoint incentives. But thats quite a jump
I have just sent kiwibank a dirty email. I suggest all holders do the same!
The Government introduced legislation in 2021 to cap the interchange rates which are the fees charged by banks when customers use a credit card. This will officially take effect from 13 November 2022. KiwiBank and AirNZ will be relying on these relatively high interchange rates to subsidise the earning rates on the credit cards. Now that the rates have been capped, they've predictably responded by lowering the earning rate and increasing the annual card fees.
Although the most pain will be felt by those using rewards cards (AirPoints, Cash Bank etc.), IMO the annual card fee increases are likely to flow through to all card types eventually.
I note that KiwiBank will also not offer a lounge pass for every $30k spent on the card.
Sometime over the next couple of weeks I'll complete some modeling on our spend and see whether we're better off converting to a different rewards card, or just a standard non-rewards type card.
Let us know what you come up with. Be interesting to see a comparison
Yep I'd be interested too. Had a quick look earlier and there isn't a lot of choice. American express certainly gives the best reward. Double whammy in fee increases as well as reduction in earnings. We had 6 lounge vouchers but they expired over the lockdown. For some reason we have not earned any more while still spending same amount of dollars.
This might help
https://www.moneyhub.co.nz/best-credit-cards.html
I used to have a platinum AMEX card years ago but then changed to the Kiwibank one, which has been slowly falling behind in value ever since. The biggest problem with AMEX is that hardly anyone in NZ accepts it.
Amex Airpoints Platinum gives you one Airpoints dollar for every $59 spent - easily the best earn rate. You'd be surprised how many places accept it - all supermarkets, fuel stations, PayPal, many national retailers, any decent restaurant or hotel. They also do some really good cash-back promotions through the year (e.g., I recently spent over $100 at PB Tech and got $20 back. There's usually 4 or 5 of these sorts of events each year that I can take advantage of.) Customer service is excellent as well - the call centre staff are clearly well trained.
Amex is a huge cost for small businesses. I remember it being something in the vicinity of 5-6% of the purchase price in costs for the retailer and if you are signed up to an association similar to the retailers association. It is higher if you are not, from memory 8-10%and also not all banks do this. Kiwibank was offering 4-5% for Visa or Mastercard for the retailer. I believe They don’t have an association that can make it cheaper.
So back in good old 2001 I started a new job and that came with a corporate AMEX card.
When I realised that you could sign up for AIRpoints with them, [note the tenuous link to the thread subject] I duly did.
Much to my surprise a 2nd AMEX card arrived. I queried this and they told me to use the new one and cut up the old one. I duly did.
Next I came to use my AMEX it did not work and it transpired they had cancelled the new card instead of the old one.
So they then sent a replacement card....
....for both cards and then it went downhill from there.
Meanwhile AIR are quite the butt of a few jokes in aviation circles in that they are struggling to get their planes back from New York without regularly needing to leave something behind to save weight and fuel.
But I am sure they will get it sorted.
Disc: I have more AMEX and other credit card stories to bore you with if required.
Air New Zealand has always been an embarrassment but they may have outdone themselves this time:
https://www.newshub.co.nz/home/trave...francisco.html
If you want to be taken seriously as an analyst, which apparently you do from posting your various reports, you might consider refraining from emotional comments about the companies you report on. Keep it factual. Reputation is hard won but easily lost. This comment does you no favours.
Air NZ used to tell their staff that they do these sort of things to get free promo 'cos they can't afford to spend big on ad like the big boys, and if you follow them on Linkedin you'll read nothing but good news on the newly launched route and everyone celebrating the end of the lock down.
If I didn't know better I'd think a big dividend is coming.:p
I guess at 6% and pseudo govt guarantee some will find the bond offer attractive
lol
Im up 17% in 3 months ,buying small amounts as it rises, nice to be winning for a change:eek2:
I wish... I'm about 20% down.
any chartists out there want to predict the 50 crossing the 200 ????
This group taking Z Energy tpo Commerce Commision for a bit of greenwashing
Probably getting a case against Air NZ as next target - wasn't that recent Sustainability Report from AIR something to behold
https://www.lawyersforclimateaction....r-greenwashing
The market has been liking AIR for a while now. Good to see it getting closer to where the punters who took up the cash issue will end up square.
I here that Virgin Australia are now flying the Tasman again, but only into & outof Queenstown. :confused:
Like your new airplane:
https://static1.simpleflyingimages.c...640&h=&dpr=1.5
SimpleFlying.com
More Govt help for cargo ……$168 million subsidy
Incredible
Shareholders should be rejoicing
but wait there's a Fuel problem
https://www.nzherald.co.nz/business/...E2NGHTFTWSR64/
Pilots say jet fuel rationing is an issue the industry doesn’t need
(Premium content)
and no local Oil Refinery to fix things in a hurry now on a fuel clean up
Surely harnessing all the excess emissions off Wellington's Labour Politician's
copious quantities of bureaucratic BS couldn't save the day ? ;)
there has to be a better means of re-purposing some of the useless blind
and clueless talent that Wellington has been inflicted with :)
https://www.nzx.com/announcements/403747
Continued strong travel demand across the domestic and international networks, as well as a recent decline in jet fuel prices has accelerated the airline’s financial recovery. As a result, Air New Zealand is today upgrading half year earnings guidance for the 2023 financial year.
The airline now expects earnings before other significant items and taxation for the first half of the financial year to be in the range of $295 million to $325 million. This compares to the previous guidance range provided on 21 September 2022 of $200 million to $275 million for the half year. The updated range is based on current forward sales expectations and assumes an average jet fuel price of around US $127/bbl for the six months to 31 December 2022. It also assumes we will fly approximately 75 percent of pre-Covid capacity levels across the entire network in December, with Domestic running at just under 100 percent, short haul at about 85 percent and international at around 70 percent.
Ticket sales over the past two months have remained strong as New Zealanders continue to book travel overseas and at home, and as the majority of our remaining international destinations re-open for passenger travel.
Fuel prices have also moderated in recent weeks, with current jet fuel prices of approximately US$102/bbl. While fuel prices are around 20 percent higher than pre-Covid levels at present, the six-month average has declined since the airline’s last market update in September, adding almost $20 million upside to the guidance range. Whilst fuel is a contributor to this earnings update, it is not the only factor.
Capacity remains constrained which will continue to impact pricing. Air New Zealand is focussed on ensuring operational reliability while also adding capacity to alleviate this pressure. Since February 2022 the airline has hired over 2,200 employees into the organisation and welcomed two new A321 neo aircraft into the fleet. These new aircraft add an additional 200,000 seats per year into the domestic network and alongside the additional employees, will help ease capacity restraints.
There are many factors that have the potential to slow the airline’s recovery and significantly impact earnings. These include ongoing fuel price volatility, global recessionary risks, continued inflationary pressures and increased costs. Consequently, the airline is not providing full year guidance at this time.
Ends.
Today's update from Air NZ bodes well for the likes of AIA, THL, SKO and GTK being associated with wider travel, leisure and airport sector in some form.