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AIR NEW ZEALAND LIMITED

(AIR)
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End-of-day quote New Zealand Stock Exchange  -  2022-06-28
0.5650 NZD    0.00%
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POSITIVE YEAR OF RECOVERY FOR WELLINGTON AIRPORT

05/17/2022 | 10:34am EDT

Today Wellington Airport announced its financial results for the 12 months to 31 March 2022.

Wellington Airport chief executive Matt Clarke said: 'While it's been a rollercoaster 12 months for the aviation sector, it's pleasing to end on a positive note with the re-opening of international borders and full flights connecting happy travellers.'

The airport has returned to profit in 2021/22 with an after-tax profit of $3 million.

Total passengers for the year ended 31 March 2022 reached over 3.5 million, an increase of 19% on the prior year. Just 48,667 of these were international passengers, due to the impacts of Covid-19.

'Looking forward there are good reasons for optimism. We welcomed back trans-Tasman flights in March and more international flights are being re-introduced over the next few months by Air New Zealand, Qantas, Jetstar and Fiji Airways. It's great to see the terminal busy and buzzing again.

'This is encouraging given the impact of Covid-19 on our business. In July 2021, when domestic travel was relatively unrestricted, domestic traffic had recovered to 93% of pre-Covid-19 levels. However, in September 2021, following the reimposition of restrictions, traffic reduced to 45% of pre-Covid-19 levels.

'With every challenge comes opportunity, and we've been able to complete essential works needed for regulatory, resilience and safety reasons. This includes beginning reconstruction of our main taxiway for the first time since the Airport opened in 1959, and progressing our plans to implement the Airport Masterplan and terminal expansion.

'We're proud of our sustainability work programme. In the last year we've welcomed our first electric flight and are working hard to reduce our energy use and operational emissions by 30% by 2030. We're also looking forward to helping the wider aviation sector transition to lower emissions through electric flights and new, sustainable aviation fuels.'

(C) 2022 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2022 2 474 M 1 537 M 1 537 M
Net income 2022 -551 M -342 M -342 M
Net Debt 2022 1 437 M 893 M 893 M
P/E ratio 2022 -2,16x
Yield 2022 -
Capitalization 1 903 M 1 183 M 1 183 M
EV / Sales 2022 1,35x
EV / Sales 2023 0,68x
Nbr of Employees 8 000
Free-Float 89,0%
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Number of Analysts 4
Last Close Price 0,57 NZD
Average target price 0,73 NZD
Spread / Average Target 28,3%
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Managers and Directors
Gregory S. Foran Chief Executive Officer
Richard Thomson Chief Financial Officer
Therese Maria Walsh Chairman
Alexandria Panot Marren Chief Operating Officer
Jonathan Parker Mason Independent Non-Executive Director
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