Air New Zealand Still Likely to Grow Near-Term Earnings Despite Fuel Headwinds
Our NZD 2.60 (AUD 2.40) per share fair value estimate for Air New Zealand is unchanged, despite adjusting our near-term estimates, and the stock is currently overvalued relative to our fair value estimate. We lifted our revenue projections by around 1% per year on average during the next five years to reflect stronger-than-expected capacity growth, although the benefit is dampened by a rapidly rising fuel bill.We’ve lifted our capacity growth forecasts to 5% on average during the next three yea...
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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