Stronger Tourism Volume Drives Air New Zealand Fiscal 2017 Earnings Upgrade
Our NZD 2.60 (AUD 2.40) per share fair value estimate for no-moat-rated Air New Zealand is unchanged following the investor day held by management. The upgraded guidance was a positive surprise, with fiscal 2017 profit before tax now expected to exceed NZD 525 million, marginally above our estimates, and an increase on the prior guidance of between NZD 475 and NZD 525 million. The stronger-than-expected performance is being driven by strong inbound New Zealand tourism, high-single-digit growth i...Air New Zealand is engaged in the transportation of passengers and cargo on an integrated network of scheduled airline services to, from and within New Zealand. Through its subsidiaries, Co. is also engaged in aviation, aircraft leasing and financing, investments, and engineering services. Co.'s geographical segments are New Zealand, Australia and Pacific Islands, United Kingdom and Europe, Asia, and America.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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