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Air New Zealand Ltd AIR

Rating as of

Morningstar’s Analysis

Valuation
Currency in NZD
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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

We Assign Qantas and Air New Zealand Standard Capital Allocation Ratings

Angus Hewitt, CFA Equity Analyst

Analyst Note

| Angus Hewitt, CFA |

We assign both no-moat Qantas and no-moat Air New Zealand Standard capital allocation ratings based on our assessment of their balance sheet risk, investment efficacy, and shareholder distributions. Our fair value estimates of AUD 5.20 and NZD 1.90 for shares in Qantas and Air New Zealand, respectively, remain intact. We expect no dividends in the near term as both Qantas and Air New Zealand protect balance sheets amid a lack of flying.

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Company Profile

Business Description

Air New Zealand, 53% owned by the New Zealand Government, provides air passenger and cargo transport services within New Zealand, as well as to and from Australia, the South-West Pacific, Asia, North America, the United Kingdom, and South America. Air New Zealand also encompasses business units providing engineering and ground handling services. Air New Zealand dominates the local market, with around 80% market share, although the majority of revenue is derived from international and trans-Tasman activity.

Contact
185 Fanshawe Street, Air New Zealand House
Auckland, NTL, 1010, New Zealand
T +64 93362400
Sector Industrials
Industry Airlines
Most Recent Earnings
Fiscal Year End Jun 30, 2022
Stock Type
Employees 10,233