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Asia

New Zealand Shares Fall; Meridian Energy Retail Contracted Sales Volumes Rise in May

New Zealand shares ended lower on Monday despite a broad-based rise in Asian shares after a Middle East peace deal was finally confirmed.The S&P/NZX 50 Index fell 0.25%, or 33.28 points, to close at 13,360.59.US and Iranian officials said they had reached a framework agreement to end the conflict, lift the U.S. blockade of Iran, and reopen the Strait of Hormuz, while Iran's nuclear program remains subject to further negotiations, Reuters reported on Sunday."The prospect of a sustained fall in energy prices changes the conversation for central banks just ahead of a flurry of policy decisions," said Sean Callow, a senior FX analyst at ⁠ITC Markets, as quoted by ReutersIn domestic news, New Zealand's services sector contracted further in May as weak consumer demand and rising costs continued to weigh on activity, according to a statement by BusinessNZ.Also, supplier costs for food supermarkets in New Zealand rose in May, marking an increase in the pace of growth after half a year of a slowdown, Infometrics said.Further, New Zealand's electronic card spending rose 2.2% month over month to NZ$9.85 billion in May on a seasonally-adjusted basis, compared with the 1.9% decrease recorded in the previous month, according to data from Stats NZMeanwhile, the volume of national home sales in New Zealand fell 12.6% year over year in May to 6,523, while the median sale price ticked 1.3% higher to NZ$775,000, according to data by the Real Estate Institute of New Zealand.In corporate news, Meridian Energy's (ASX:MEZ, NZE:MEL) retail contracted sales volumes rose to 860 gigawatt hours (GWh) in May from 798 GWh a year earlier.Air New Zealand (NZE:AIR, ASX:AIZ) said Saturday it expects services in and out of Wellington airport to mostly start operating as scheduled on Saturday, June 13, following a fire incident on the night of Friday, June 12.

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Asia

Air New Zealand Group Capacity Rises in April

Air New Zealand (NZE:AIR, ASX:AIZ) group capacity rose 2.4% year on year in April, according to a Tuesday filing with the Australian and New Zealand bourses.Long-haul available seat kilometers (ASKs) rose 0.3%, while domestic ASKs increased by 2.2%, per the filing.Short-haul international ASKs rose 6.9% year on year, supported by the addition of two new A321 aircraft.Group year-to-date underlying revenue per available seat kilometer rose 2.8% from the prior year.The airline carried 1.3 million passengers in April, up 2.2% from the previous year, while the passenger load factor rose to nearly 86%, up from around 84%, the filing added.The company's New Zealand shares were down 2% in recent Tuesday trade.

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Asia

Air New Zealand Shares Flat After Collaboration With Singapore Airlines

Air New Zealand (ASX:AIZ, NZE:AIR) shares were flat in recent Friday trade after the company and Singapore Airlines on Thursday agreed to expand their joint network by introducing new non-stop flights into Christchurch and increasing capacity into Auckland.Air New Zealand will launch three weekly flights between Singapore and Christchurch during the Northern Winter season, and will also add four weekly Auckland services during the period.The collaboration will increase the overall seat capacity between Singapore and New Zealand by 17% from late October 2026, the companies said.

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Asia

Singapore Airlines, Air New Zealand to Expand Joint Network

Singapore Airlines (SGX:C6L) and New Zealand (NZE:AIR, ASX:AIZ) agreed to expand their joint network by introducing new non-stop flights into Christchurch and increasing capacity into Auckland, according to a company release on Thursday.Under the new arrangement, Air New Zealand will launch three weekly flights between Singapore and Christchurch during the Northern Winter season, taking the Christchurch operations to 12 weekly services.The New Zealand flight operator will also add four weekly Auckland services during the period.Air New Zealand is expecting a 17% increase in its overall seat capacity between Singapore and New Zealand from late October.

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Asia

New Zealand Shares Rise; Scales Reaffirms 2026 Underlying Net Profit After Tax Guidance

New Zealand shares ended higher on Wednesday as investors digested the Reserve Bank of New Zealand's decision to hold the official cash rate steady.The S&P/NZX 50 Index rose 1.21% or 158.07 points to close at 13,227.81.The Reserve Bank of New Zealand's (RBNZ) monetary policy committee decided to keep the official cash rate steady at 2.25%, according to a statement.Iran said on Tuesday that the US had breached a ceasefire by striking targets near the Strait of Hormuz, potentially complicating efforts to end the war, according to a Tuesday Reuters report.In corporate news, Scales (NZE:SCL) reaffirmed its market guidance of an underlying net profit after tax attributable to shareholders of between NZ$50 million and NZ$55 million for the full year.Air New Zealand (ASX:AIZ, NZE:AIR) informed customers of further flight cuts from August to October amidst a jet fuel crisis in the wake of the conflict in the Middle East, according to a report by Radio New Zealand.

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Asia

Market Chatter: Air New Zealand Begins Informing Customers of Flight Cuts from August to October, Radio New Zealand Says

Air New Zealand (ASX:AIZ, NZE:AIR) informed customers of further flight cuts from August to October amidst a jet fuel crisis in the wake of the conflict in the Middle East, according to a Wednesday report by Radio New Zealand.Under 2% of customers during the period would be affected, with the majority of impacted customers having the option to still being able to travel on the same day, the airline said.Those whose updated flight does not suit their plans can opt for a refund or a credit, the report added citing a spokesperson for Air New Zealand.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

NZX Midday Sector Update: Transportation Stocks Rise, Energy Minerals Struggle

Transportation stocks advanced more than 2% at midday Thursday.Shares of Air New Zealand (NZE:AIR, ASX:AIZ) rose 5% in recent trade.Meanwhile, the energy minerals sector fell almost 2%.Shares of Channel Infrastructure (NZE:CHI, ASX:CHI) drove the decline, falling nearly 1% in recent trade.

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Asia

Air New Zealand Adds Three International Routes From Christchurch

Air New Zealand (NZE:AIR, ASX:AIZ) will launch three new non-stop international routes, from Christchurch to Singapore, Tokyo and Perth, starting in late October, according to a Wednesday statement.The new routes are part of agreement with Christchurch Airport to expand international connectivity into the South Island, and follow the airline's 787 aircraft returning to service after grounding due to engine maintenance issues.Air New Zealand and Christchurch Airport have entered a memorandum of understanding for a long-term partnership under which they will align planning and network development, as well as support sustainable growth and enhanced international connectivity for the South Island.The first Christchurch-Singapore service will depart on Oct. 28, followed by Christchurch-Narita on Nov. 28 and Christchurch-Perth on Nov. 30, subject to regulatory approval.

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Asia

Update: Air New Zealand Expects Fiscal 2026 Loss Before Taxation of NZ$340 Million to NZ$390 Million

(Updates with latest stock movements in the last paragraph.)Air New Zealand (ASX:AIZ, NZE:AIR) expects a fiscal year 2026 loss before taxation in the range of NZ$340 million to NZ$390 million, based on current trading conditions and an assumed average jet fuel price of around $145 per barrel for the second half, according to Thursday filings with the Australian and New Zealand bourses.The revised outlook remains subject to material uncertainty, including continued volatility in jet fuel prices and refining margins, global economic conditions, and demand conditions. The airline is around 85% hedged against its fiscal year 2026 second-half Brent crude exposure following recent capacity consolidations. It is around 55% hedged on Brent crude for the first half of fiscal year 2027 and is actively managing its hedging profile.Fare increases were implemented, but recovering the full impact of higher fuel costs over a short period would risk further demand softness, the company noted. It has made three targeted capacity consolidations to date, reducing overall group capacity since the start of the conflict in the Middle East by around 3% to 5% across its various networks.The airline is reviewing upcoming capital expenditure plans, noting there will be near-term capital expenditure deferrals because of delays from aircraft manufacturers. It identified up to NZ$100 million of annualized cost savings to date, which will flow through into fiscal year 2027 and beyond.It is in the final stages of establishing a $400 million secured revolving credit facility to raise financing against part of its existing unencumbered aircraft pool.Its shares fell past 3% on the New Zealand bourse in recent Thursday trade and declined over 4% on the Australian exchange. Meanwhile, shares of Qantas Airways (ASX:QAN) were down nearly 1%.

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Asia

Air New Zealand Expects Fiscal 2026 Loss Before Taxation Of NZ$340 Million To NZ$390 Million

Air New Zealand (ASX:AIZ, NZE:AIR) expects a fiscal year 2026 loss before taxation in the range of NZ$340 million to NZ$390 million, based on current trading conditions and an assumed average jet fuel price of around $145 per barrel for the second half, according to Thursday filings with the Australian and New Zealand bourses.The revised outlook remains subject to material uncertainty, including continued volatility in jet fuel prices and refining margins, global economic conditions, and demand conditions. The airline is around 85% hedged against its fiscal year 2026 second-half Brent crude exposure following recent capacity consolidations. It is around 55% hedged on Brent crude for the first half of fiscal year 2027 and is actively managing its hedging profile.Fare increases were implemented, but recovering the full impact of higher fuel costs over a short period would risk further demand softness, the company noted. It has made three targeted capacity consolidations to date, reducing overall group capacity since the start of the conflict in the Middle East by around 3% to 5% across its various networks.The airline is reviewing upcoming capital expenditure plans, noting there will be near-term capital expenditure deferrals because of delays from aircraft manufacturers. It identified up to NZ$100 million of annualized cost savings to date, which will flow through into fiscal year 2027 and beyond.It is in the final stages of establishing a $400 million secured revolving credit facility to raise financing against part of its existing unencumbered aircraft pool.Its shares fell 2% on the New Zealand bourse in early trading on Thursday.

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Asia

New Zealand Shares Rise; a2 Milk Co. Recalls US Infant Formula Batches After Toxin Detection

New Zealand shares ended higher on Monday as most Asian indexes saw gains amid hopes of an easing US-Iran war.The S&P/NZX 50 Index rose 0.45% or 58.48 points to close at 13,097.68.US President Donald Trump on Sunday said that the US would begin efforts Monday morning to help free ships stranded in the Strait of Hormuz, describing the move as a humanitarian step to assist neutral countries amid the US-Israeli war with Iran, according to a Sunday Reuters report.In corporate news, a2 Milk Co. (ASX:A2M, NZE:ATM) started a voluntary recall on May 1 of three batches of its a2 Platinum USA infant milk formula, following the detection of cereulide in product manufactured by Synlait Milk (ASX:SM1, NZE:SML).Air New Zealand (ASX:AIZ, NZE:AIR) group capacity rose 4.1% year on year in March, and long-haul available seat kilometers (ASKs) rose 2.5%, while domestic ASKs increased by 3.4%.

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Asia

Air New Zealand Group Capacity Rises in March

Air New Zealand (ASX:AIZ, NZE:AIR) group capacity rose 4.1% year on year in March, according to a Monday filing with the Australian and New Zealand bourses.Long-haul available seat kilometers (ASKs) rose 2.5%, while domestic ASKs increased by 3.4%, per the filing.Short-haul international ASKs rose 7.6% year on year, supported by the addition of two new A321 aircraft.Group year-to-date underlying revenue per available seat kilometer rose 2.7% from the prior year.The airline carried 1.6 million passengers in March, about the same as the previous year, while the passenger load factor rose to nearly 86%, up from around 83%, the filing added.

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Asia

Air New Zealand's Moody's Outlook Cut to Negative, Rating Affirmed at 'Baa1'

Air New Zealand (ASX:AIZ) said Moody's Ratings has affirmed its issuer rating and senior unsecured debt rating at "Baa1," while changing the outlook to negative from stable, according to a Friday New Zealand and Australia bourse filing.Moody's also affirmed the baseline credit assessment at "baa3" and the senior unsecured medium term note programme at "(P)Baa1," the filing added.

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Asia

New Zealand Shares Flat; Air New Zealand CFO to Resign

New Zealand shares ended flat with a positive bias on Wednesday, while Asian shares were mixed after the US decided to extend the Iran ceasefire.The S&P/NZX 50 Index was little changed to close at 12,945.60.US President Donald Trump said he would extend the ceasefire with Iran indefinitely to allow more time for peace negotiations, though it remained unclear on Wednesday whether Iran or Israel would agree, according to a Wednesday Reuters report.Meanwhile, the "golden visa" program of New Zealand has lured nearly NZ$4 billion in committed and pipeline investment in its first year, the government said on Wednesday, as Wellington looks to draw wealthy migrants and growth capital, Reuters reported on Wednesday.In domestic news, a total of 14,993 metric tonnes (MT) of products were sold during the Global Dairy Trade auction held on Tuesday, with supply ranging from 14,166 to 18,737 MT, according to data from the trading platform.In corporate news, Air New Zealand (ASX:AIZ, NZE:AIR) said that Chief Financial Officer Richard Thomson has resigned, effective Aug. 28.NZX (NZE:NZX) appointed Graham Law, chief financial and corporate officer, as acting chief executive, effective May 1.

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Asia

Air New Zealand CFO to Resign

Air New Zealand (ASX:AIZ, NZE:AIR) said that Chief Financial Officer Richard Thomson has resigned, effective Aug. 28, according to a Wednesday filing with the New Zealand bourse.The airline has started the process of searching for a new CFO, the filing added.

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Asia

Air New Zealand Launches Economy Skynest Sleep Pods for Long-Haul Flights

Air New Zealand (ASX:AIZ, NZE:AIR) is set to launch its Skynest bunk-style sleep pods for economy passengers on long-haul Boeing 787-9 services beginning November, according to a Wednesday statement from the airline.Skynest features six lie-flat sleep pods arranged in a bunk-style layout, positioned between the economy and premium economy cabins, each offering a full-length mattress with bedding, lighting, ventilation, charging ports, and privacy features for comfort and safety.The company said that pricing for the Skynest option will start at around NZ$495 per session, and the product will be available for booking from May 18.The company's Australian shares rose by around 2% in Wednesday trading, while its New Zealand shares gained over 1%.

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US Markets

New Zealand's Services Sector Stays in Contraction in March

New Zealand's services sector further shrank in March as the impact of the Middle East conflict was felt across business sectors.The BusinessNZ Performance of Services Index dropped to 46.0 from 47.6 in February, according to a Monday press release from BusinessNZ."The services sector in New Zealand is clearly feeling the effects of the conflict in Iran," BusinessNZ Chief Executive Officer Katherine Rich said. "The industries that deal mainly in discretionary spending have been especially impacted, and this is likely to reflect a lack of consumer confidence."The sectors involved in discretionary spending are accommodation, cafes and restaurants, and cultural and recreational services.Travel and airlines are also affected as the U.S.-Iran conflict triggered oil price shocks, especially at the closure of the Strait of Hormuz, the world's most critical oil passageway. Earlier this month, Air New Zealand (NZE:AIR, ASX:AIZ) said it will make minor adjustments to about 4% of its May and June flights due to rising jet fuel costs.All of the five sub-indexes are below the neutral reading of 50, with activities and sales the weakest at 44.6, BNZ said.The war in Iran also widened the pessimism among survey respondents as negative comments grew to 69.1% in March from 56.4% in the previous month. The response indicated that the economy could soon be contracting, BNZ's head of research, Stephen Toplis, said.The war is expected to bring more pressure on inflation, especially as the U.S. and Iran could not reach a deal during the two-week ceasefire. President Donald Trump ordered a blockade at the Strait of Hormuz as talks between the two countries crumbled.Analysts from ANZ expect that the inevitable rise in inflation could prompt three straight interest rate hikes this year. The bank predicts that the Reserve Bank of New Zealand is likely to add 25 basis points in its monetary policy in July, September and October, bringing the official cash rate to 3%.Westpac also expects the RBNZ to add 25 basis points until the OCR reaches 3.5%."We continue to believe that the same shape of the latter part of the interest rate cycle where the OCR rises above our assessment of neutral (which remains at 3.75%), peaking at 4.25% in December 2027 and remaining at 4.25% through 2028 before returning to 3.75% in 2029," Westpac's chief economist for New Zealand, Kelly Eckhold, said.

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