Rising Fuel Bill Continues to Weigh on Air New Zealand’s Near-Term Earnings
No-moat-rated Air New Zealand guided to fiscal 2019 profit before tax of above NZD 340 million, compared with prior guidance of between NZD 340 and NZD 400 million. This reflects an additional NZD 25 million headwind from increased jet fuel prices, assuming an average price of USD 78 per barrel in the second half. As such, we have downgraded our fiscal 2019 EPS forecast by 5% to NZD 24 cents per share.Despite softer near-term earnings, our NZD 2.60 (AUD 2.50) per share fair value estimate is un...
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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