25 stories mentioning ASX:AIZUpdated 14d ago
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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.
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.
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.
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%.
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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