Softer Near-Term Outlook for Air New Zealand as Lower Fuel Price Unable to Fully Offset Soft Demand
No-moat-rated Air New Zealand has cut expectations for fiscal 2019 earnings. Lower jet fuel prices are not able to offset the softening domestic travel outlook and slowing revenue growth. We have lowered our near-term forecasts although our long-term projections are broadly unchanged, as is our NZD 2.60 per share fair value estimate (AUD 2.50 per share based on the AUD/NZD 1.05 exchange rate). Having fallen by around 15% upon release of the earnings downgrade, shares in Air New Zealand are tradi...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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