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Air New Zealand Ltd AIR

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Morningstar’s Analysis

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Currency in NZD
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Capital Allocation

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Trans-Tasman Travel Bubble a Lift for Airlines and Airports; FVEs Maintained

Angus Hewitt, CFA Equity Analyst

Analyst Note

| Angus Hewitt, CFA |

The trans-Tasman travel bubble, allowing quarantine-free travel between Australia and New Zealand from April 19, 2021, is welcome news for the embattled air travel sector. Border restrictions decimated international travel, and with it, passenger revenue for airlines and airports. While travellers from New Zealand could enter most Australian states without mandatory quarantine from October 2020, we expect travel demand between the nations to pick up considerably, now quarantine is no longer required on the return journey.

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Company Profile

Business Description

Air New Zealand, 53% owned by the New Zealand Government, provides air passenger and cargo transport services within New Zealand, as well as to and from Australia, the South-West Pacific, Asia, North America, the United Kingdom, and South America. Air New Zealand also encompasses business units providing engineering and ground handling services. Air New Zealand dominates the local market, with around 80% market share, although the majority of revenue is derived from international and trans-Tasman activity.

Contact
185 Fanshawe Street, Air New Zealand House
Auckland, 1010, New Zealand
T +64 93362400
Sector Industrials
Industry Airlines
Most Recent Earnings
Fiscal Year End Jun 30, 2021
Stock Type
Employees 10,233

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