Air New Zealand is the nation’s flag carrier. The airline operates flights to 20 domestic destinations as well as international destinations in Australia, the Pacific, Asia and North America.
Air New Zealand shares (AIR) are listed on the New Zealand Stock Exchange (NZX) and in Australia. Keep reading to find out how to buy AIR shares on the NZX.
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Air New Zealand started life as Tasman Empire Airways Limited (TEAL) in 1940. It was acquired by the NZ government and given its current name in 1965. The company was privatised in 1989 and merged with Ansett in 2000, but its near financial collapse in the ensuing years resulted in an $885 million government bailout. Today, 52% of Air New Zealand ordinary shares are owned by the New Zealand Government.
Prior to the COVID-19 pandemic, Air New Zealand’s network of domestic and international flights moved approximately 17 million passengers per year. The carrier offered over 3,400 flights per week, servicing 20 destinations in New Zealand and a host of destinations in Australia, Canada, the USA, Asia and the Pacific Islands.
Headquartered in Auckland, Air New Zealand also boasted a fleet of over 100 aircraft and more than 12,000 employees around the world.
Air New Zealand’s 2020 annual results, released in August 2020, revealed a disappointing year following the impact of COVID-19. The company reported a loss of $87 million for the 2020 financial year, with operating revenue down 16% to $4.8 billion. Total network capacity had also declined by 21% compared to the previous year.
But it wasn’t all bad news, with $449 million in cargo revenue representing a 15% increase on the prior year.
|Name||Air New Zealand Limited||Industry||Airlines|
|Type||Ordinary shares||Date listed on NZX||24 Oct 1989|
|End of financial year||June||Chief executive officer||Greg Foran|
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