Higher Fuel Price and Softening Macro Environment Weigh on Air New Zealand’s Earnings
No-moat-rated Air New Zealand has endured a challenging start to fiscal 2019, with profit before tax, or PBT, sliding 34% to NZD 211 million. While disappointing, the result was in line with our expectations, and the firm continues to track towards our NZD 370 million fiscal 2019 forecast, which is a significant drop on the NZD 540 million PBT last year. The company delivered a healthy 7% increase in revenue, although this was more than offset by a 28% jump in fuel cost and higher operating cost...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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