Air New Zealand's Profit May Only Recover Slightly in FY 2025 -- Market Talk

Dow Jones04-23

0059 GMT - Investors betting on a big profit recovery by Air New Zealand in its next fiscal year are likely to be disappointed, suggests Forsyth Barr. Air New Zealand on Monday downgraded its forecast for pretax earnings in FY 2024 to NZ$190 million-NZ$230 million, from prior guidance of NZ$200 million-NZ$240 million. In a note, analyst Andy Bowley notes that the trading backdrop has worsened and Air New Zealand is getting no support from fuel prices. "Forward bookings for 4Q of FY 2024 are weak, and with consumer sentiment unlikely to improve materially over the near term in key source markets, any profit recovery in FY 2025 will be muted," Forsyth Barr says. Its price target falls 4% to NZ$0.48/share. Air New Zealand is unchanged at NZ$0.57 today. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

April 22, 2024 21:00 ET (01:00 GMT)

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Air New Zealand on Monday downgraded its forecast...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"NZ50G.NZ","symbol_name":"S&P/NZX 50","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2429189046","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2429189046","pubTimestamp":1713834000,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0059 GMT - Investors betting on a big profit recovery by Air New Zealand in its next fiscal year are likely to be disappointed, suggests Forsyth Barr. Air New Zealand on Monday downgraded its forecast for pretax earnings in FY 2024 to NZ$190 million-NZ$230 million, from prior guidance of NZ$200 million-NZ$240 million. In a note, analyst Andy Bowley notes that the trading backdrop has worsened and Air New Zealand is getting no support from fuel prices. \"Forward bookings for 4Q of FY 2024 are weak, and with consumer sentiment unlikely to improve materially over the near term in key source markets, any profit recovery in FY 2025 will be muted,\" Forsyth Barr says. Its price target falls 4% to NZ$0.48/share. Air New Zealand is unchanged at NZ$0.57 today. 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