Air New Zealand Ltd
AIZ: XASX (AUS)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
A$1.29 | Hfv | Scpppqwz |
Air New Zealand: Profits Are Sky High, but Good Times Won't Last Forever
We make no changes to our NZD 0.97 (AUD 0.88) fair value estimate for shares in Air New Zealand following a trading update. The company now expects to report fiscal 2023 profit before tax of no less than NZD 580 million, an upgrade of 8% at the midpoint of prior guidance of NZD 510 million to NZD 560 million. We lift our fiscal 2023 pretax profit forecast by 7% to NZD 582 million as demand continues to outstrip supply. Full planes, high ticket prices, and an easing fuel bill sees Air New Zealand set to exceed pre-COVID-19 profitability.