New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>Air New Zealand (AIR) reported a challenged FY24 result, which incorporated a significant decline in profitability during the second half, driven by slowing demand and competitive pressures.</li><li>The result was impacted by ~NZ$100m of temporary net costs in the year due to aircraft availability issues (from engine maintenance requirements), albeit these were largely offset by NZ$90m of one-off COVID credit breakage income.</li><li>The outlook for 1H25 remains subdued, with AIR trading close to breakeven, as current difficult operating conditions are likely to continue. </li></ul>

Air New Zealand (AIR) reported a challenged FY24 result, which incorporated a significant decline in profitability during the second half, driven by slowing demand and competitive pressures.The result was impacted by ~NZ$100m of temporary net costs in the year due to aircraft availability issues (from engine maintenance requirements), albeit these were largely offset by NZ$90m of one-off COVID credit breakage income.The outlook for 1H25 remains subdued, with AIR trading close to breakeven, as current difficult operating conditions are likely to continue. 

Air New Zealand - FY24 — Landing Just Above Sea Level