With 3.368 billion shares now on issue there is a lot of work to do for a return on capital. A 1cps dividend would require $33,684,301
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With 3.368 billion shares now on issue there is a lot of work to do for a return on capital. A 1cps dividend would require $33,684,301
And after the exemplary baggage handling on the first NZ1 to Auckland we have the sequel - flight diverted to Fiji.
If they are true to their recent form, PAX will probably be told to find their own accommodation and denied compensation
The twin-engined planes, although more efficient than their predecessors are struggling to fly the route apparently in certain weather conditions.
This is common practice in the industry. Many a passenger on Queer and Nasty's DFW MEL service have been surprised by a landing in the lucky country at BNE instead because of fuel endurance issues.
Long duration flights require lot of fuel and then even more fuel to carry this extra fuel. Fuel endurance on these flights is so close to safety margins a sparrow farting in front of the aircraft can cause a fuel diversion.
This issue should not cause people to freak out, though a bit of honesty from airlines about the likelihood of diversions and the risk of baggage off loads would be helpful.
Boop boop de do
Marilyn
No, definitely normal for plane to make tech stops, in fact I'd rather enjoy the experience, if I were homeward bound and don't have any commitments lined up on my return LOL.
We've had the exact same experience with multiple airlines including AIR.
One memorable one was NZ8 SFO-AKL.
After sitting on plane at the gate for 2 hours I watched as our bags were offloaded apparently due to a mechanical issue that ground-crew at the time refused to fix due to a strike. The airline had tried to put the entire aircraft up in a hotel, but couldn't due to lack of availability so a decision to continue the flight was made. Most baggage and fuel was offloaded but looking out the window an argument between the fuel truck driver and one of the ground staff was visible. It turned out the truck wasn't large enough to offload the fuel required, so another truck was bought in. Four hours later at 1am, the flight left SFO headed to Fiji (without baggage), given approval to land in HNL to refuel was declined.
We landed in Fiji and another argument ensued between the security staff, one of which wanted to screen all passengers before entering the terminal, while the other argued there was no point because the flight arrived directly from SFO and hadn't made any stops. They battled it out for approximately 10 mins before someone else just open the door and let everyone through. We eventually landed in AKL some 12 hours late.
The airline handled it as best they could. We received food vouchers for Nandi, and extra meals were served on the plane, including while we waited at the gate. Our bags were delivered directly to our house by airport staff the following day.
These unforeseen issues occur reasonably frequently, so it's not worth getting worked up about it.
"‘It was wonderful’: Eviation’s Alice electric airplane wins praise after its first flight test"
https://www.geekwire.com/2022/eviati...t-flight-test/
https://www.nzx.com/announcements/399605
Potential bond offer to replace existing bonds maturing 28/10/22
Kiwibank changing the Airpoints Credit card benefits - was 1 AP per $85 spend - now 1 AP per $115 spend.
I am not sure if this is a KiwiBank initiative or Air NZ tightening the belts and reducing Airpoint incentives. But thats quite a jump
I have just sent kiwibank a dirty email. I suggest all holders do the same!
The Government introduced legislation in 2021 to cap the interchange rates which are the fees charged by banks when customers use a credit card. This will officially take effect from 13 November 2022. KiwiBank and AirNZ will be relying on these relatively high interchange rates to subsidise the earning rates on the credit cards. Now that the rates have been capped, they've predictably responded by lowering the earning rate and increasing the annual card fees.
Although the most pain will be felt by those using rewards cards (AirPoints, Cash Bank etc.), IMO the annual card fee increases are likely to flow through to all card types eventually.
I note that KiwiBank will also not offer a lounge pass for every $30k spent on the card.
Sometime over the next couple of weeks I'll complete some modeling on our spend and see whether we're better off converting to a different rewards card, or just a standard non-rewards type card.
Let us know what you come up with. Be interesting to see a comparison
Yep I'd be interested too. Had a quick look earlier and there isn't a lot of choice. American express certainly gives the best reward. Double whammy in fee increases as well as reduction in earnings. We had 6 lounge vouchers but they expired over the lockdown. For some reason we have not earned any more while still spending same amount of dollars.
This might help
https://www.moneyhub.co.nz/best-credit-cards.html
I used to have a platinum AMEX card years ago but then changed to the Kiwibank one, which has been slowly falling behind in value ever since. The biggest problem with AMEX is that hardly anyone in NZ accepts it.
Amex Airpoints Platinum gives you one Airpoints dollar for every $59 spent - easily the best earn rate. You'd be surprised how many places accept it - all supermarkets, fuel stations, PayPal, many national retailers, any decent restaurant or hotel. They also do some really good cash-back promotions through the year (e.g., I recently spent over $100 at PB Tech and got $20 back. There's usually 4 or 5 of these sorts of events each year that I can take advantage of.) Customer service is excellent as well - the call centre staff are clearly well trained.
Amex is a huge cost for small businesses. I remember it being something in the vicinity of 5-6% of the purchase price in costs for the retailer and if you are signed up to an association similar to the retailers association. It is higher if you are not, from memory 8-10%and also not all banks do this. Kiwibank was offering 4-5% for Visa or Mastercard for the retailer. I believe They don’t have an association that can make it cheaper.
So back in good old 2001 I started a new job and that came with a corporate AMEX card.
When I realised that you could sign up for AIRpoints with them, [note the tenuous link to the thread subject] I duly did.
Much to my surprise a 2nd AMEX card arrived. I queried this and they told me to use the new one and cut up the old one. I duly did.
Next I came to use my AMEX it did not work and it transpired they had cancelled the new card instead of the old one.
So they then sent a replacement card....
....for both cards and then it went downhill from there.
Meanwhile AIR are quite the butt of a few jokes in aviation circles in that they are struggling to get their planes back from New York without regularly needing to leave something behind to save weight and fuel.
But I am sure they will get it sorted.
Disc: I have more AMEX and other credit card stories to bore you with if required.
Air New Zealand has always been an embarrassment but they may have outdone themselves this time:
https://www.newshub.co.nz/home/trave...francisco.html
If you want to be taken seriously as an analyst, which apparently you do from posting your various reports, you might consider refraining from emotional comments about the companies you report on. Keep it factual. Reputation is hard won but easily lost. This comment does you no favours.
Air NZ used to tell their staff that they do these sort of things to get free promo 'cos they can't afford to spend big on ad like the big boys, and if you follow them on Linkedin you'll read nothing but good news on the newly launched route and everyone celebrating the end of the lock down.
If I didn't know better I'd think a big dividend is coming.:p
I guess at 6% and pseudo govt guarantee some will find the bond offer attractive
lol
Im up 17% in 3 months ,buying small amounts as it rises, nice to be winning for a change:eek2:
I wish... I'm about 20% down.
any chartists out there want to predict the 50 crossing the 200 ????
This group taking Z Energy tpo Commerce Commision for a bit of greenwashing
Probably getting a case against Air NZ as next target - wasn't that recent Sustainability Report from AIR something to behold
https://www.lawyersforclimateaction....r-greenwashing
The market has been liking AIR for a while now. Good to see it getting closer to where the punters who took up the cash issue will end up square.
I here that Virgin Australia are now flying the Tasman again, but only into & outof Queenstown. :confused:
Like your new airplane:
https://static1.simpleflyingimages.c...640&h=&dpr=1.5
SimpleFlying.com
More Govt help for cargo ……$168 million subsidy
Incredible
Shareholders should be rejoicing
but wait there's a Fuel problem
https://www.nzherald.co.nz/business/...E2NGHTFTWSR64/
Pilots say jet fuel rationing is an issue the industry doesn’t need
(Premium content)
and no local Oil Refinery to fix things in a hurry now on a fuel clean up
Surely harnessing all the excess emissions off Wellington's Labour Politician's
copious quantities of bureaucratic BS couldn't save the day ? ;)
there has to be a better means of re-purposing some of the useless blind
and clueless talent that Wellington has been inflicted with :)
https://www.nzx.com/announcements/403747
Continued strong travel demand across the domestic and international networks, as well as a recent decline in jet fuel prices has accelerated the airline’s financial recovery. As a result, Air New Zealand is today upgrading half year earnings guidance for the 2023 financial year.
The airline now expects earnings before other significant items and taxation for the first half of the financial year to be in the range of $295 million to $325 million. This compares to the previous guidance range provided on 21 September 2022 of $200 million to $275 million for the half year. The updated range is based on current forward sales expectations and assumes an average jet fuel price of around US $127/bbl for the six months to 31 December 2022. It also assumes we will fly approximately 75 percent of pre-Covid capacity levels across the entire network in December, with Domestic running at just under 100 percent, short haul at about 85 percent and international at around 70 percent.
Ticket sales over the past two months have remained strong as New Zealanders continue to book travel overseas and at home, and as the majority of our remaining international destinations re-open for passenger travel.
Fuel prices have also moderated in recent weeks, with current jet fuel prices of approximately US$102/bbl. While fuel prices are around 20 percent higher than pre-Covid levels at present, the six-month average has declined since the airline’s last market update in September, adding almost $20 million upside to the guidance range. Whilst fuel is a contributor to this earnings update, it is not the only factor.
Capacity remains constrained which will continue to impact pricing. Air New Zealand is focussed on ensuring operational reliability while also adding capacity to alleviate this pressure. Since February 2022 the airline has hired over 2,200 employees into the organisation and welcomed two new A321 neo aircraft into the fleet. These new aircraft add an additional 200,000 seats per year into the domestic network and alongside the additional employees, will help ease capacity restraints.
There are many factors that have the potential to slow the airline’s recovery and significantly impact earnings. These include ongoing fuel price volatility, global recessionary risks, continued inflationary pressures and increased costs. Consequently, the airline is not providing full year guidance at this time.
Ends.
Today's update from Air NZ bodes well for the likes of AIA, THL, SKO and GTK being associated with wider travel, leisure and airport sector in some form.
It is interesting that there is no mention of cashflow.....
Another upgrade and it could be a record H1 for AIR
Guidance $325m same as achieved H118 and not far off recent high of $457m in H1166
Incredible performance
Would love to get in on an electric plane. I always wonder when we will be able to ride one domestically.
Would these planes be more limited in size or range? They look like they world struggle the Auckland to Wellington trip
Good Megan sorted out jet fuel crisis ….well done the Government
@Megan_Woods
Great news! Jet fuel allocations back to normal after work between Government, fuel companies, airlines and airports to manage a temporary shortfall due to ‘off-spec’ shipment of fuel last week. Monday’s shipment available to Akl airport from tomorrow & 3 more due by 26 Dec ✈️
When Mike says AIR have stuffed up digitally they must have stuffed up big time
Air New Zealand has taken a big step backwards in customer experience
https://www.stuff.co.nz/business/opi...mer-experience
Compared with the ATR-72 600, Alice has less than 1/3 the range*, 2/3 cruising speed, 1/7 passenger load, and 1/6 total payload capability.
EDIT: I've omitted the A320 figures because IMO it's not a fair comparison between a turbofan with electric-prop based aircraft. The ATR's also service the sectors you've mentioned.
*The manufacturer has listed the VFR day range, but in the short time I researched this, I couldn't find figures for average conditions, hence 1/3 is probably optimistic.
I see that AIR has now rescheduled 2000 flights for next year. They say 90% will leave within sixty minutes of original schedule (that's probably just about as good as flights that haven't been rescheduled:p).
But on a more serious note, they say that 10% of these flights, presumably international, have been rescheduled for a different date - no mention of compensation for the inconvenienced passengers (extra accommodation, food, ground transport, extra days off work, missed activity bookings etc). AIR seems to think they will get away with this but in reality they are on the hook for damages under the Civil Aviation Act up to $8800 per pax whether they like it or not.
So let's say the average cost to pax is $1500 and 10% of 2000 planes are affected, say 100 pax per plane, I think AIR is looking at some serious compensation - circa $30m. And the extra damage to reputation
Gawd Struth .. all those accolades in the Article Comments section - Not :)
Air NZ hold your head in shame or at least consider a name change SH*TAIR
seems to be the best suggestion ;)
At this rate all of the South American Airlines would likely run rings around AIR
by a country mile :)
Any wonder so many of the best Staff probably aren't in least interested in having
anything further to do with AIR after the way they were treated in recent years
https://thebull.com.au/18-share-tips...6+January+2023
Sell recommendation on Air NZ.
Quote:
The airline recently upgraded earnings before other significant items and tax to between $295 million and $325 million for the first half of fiscal year 2023. This compares with previous guidance of between $200 million and $275 million for the half year. In our view, higher interest rates and rising cost of living expenses may curtail airline travel after the holiday season ends.
https://www.nzherald.co.nz/nz/passen...CIMUCWRAWFUIM/
Passengers left fuming after Air New Zealand New York to Auckland flight delayed by more than 48 hours
it wont take too much of this sort of AIR NZ screw up to send patrons off over to the circling
competition ;)
AIR might not only be operating on borrowed cash, but also borrowed brownie points
and borrowed time before the consequences hit ..
Oh look .. the Competition just announced they're flying back in:
https://www.stuff.co.nz/travel/news/...hurch-in-march
Double-decker Airbus A380 to restart daily flights to Christchurch in March
No 48 hour delays with their flights - I bet :)
https://www.stuff.co.nz/travel/news/...ce-to-auckland
One of the world's biggest airlines confirms first ever service to Auckland
If they like what they see - what does that spell for both AIR and Aussie's Kangaroo Air ?
Imo long haul is just a branding exercise for the airline. I would actually encourage more competitor flights on all long haul routes as ultimately Air NZ would benefit from it.
Long haul only accounts for 12-13% of Air NZ revenue.
Any courageous investors out there?
"Virgin mulls ASX return after Ukraine and rates weigh on share market floats in 2022"
https://www.abc.net.au/news/2023-01-...rgin/101893004
Boop boop de do
Marilyn
Saying it's a game changer is a bit of a stretch - it will probably see some price competition for Air New Zealand on the route that it's had to itself for a long time.
Delta partner with Virgin Atlantic, KLM and Air France.
A LAX-LHR leg will be on Virgin Atlantic if you want non-stop and maximise SkyMiles (their alliance program) - otherwise you are going a US Domestic stop at somewhere like:
- MSP (Minneapolis St Paul)
- Detroit
- JFK New York
- Atlanta
- Salt Lake City
Believe me when I say US Domestic Legs aren't the greatest experience you will have travelling.
American Airlines used to do the AKL-LAX non-stop before the pandemic but now are flying into Auckland from Dallas-Fort Worth, United still do the AKL-SFO non-stop.
There are SFO - LHR and DFW-LHR options.
About 3 years earlier than scheduled if it happens??
https://www.newstalkzb.co.nz/on-air/...and-in-august/
Jarden is predicting Air New Zealand will announce a full-year dividend in August.
This will be the first full dividend for Air New Zealand since pre-Covid.
BusinessDesk managing editor Pattrick Smellie says this is a departure from two years ago, where the company was relying on Government subsidies to keep them afloat.
Pattrick Smellie says this proves Air New Zealand was able to bounce back quickly and maintain high profit margins due to lack of competition on several routes.
https://www.nzx.com/announcements/407175
Air New Zealand – demand driving strong recovery
1H 2023 Financial summary
• Statutory earnings before taxation of $299 million , compared to a loss of $376 million for the equivalent six-month period last year
• Operating revenue of $3.1 billion driven by strong demand particularly across the peak summer period
• Flew eight million passengers compared to three million for the same period last year
• Domestic capacity at 94% of pre-Covid levels, and International at 60% capacity
• 3,000 people recruited since January 2022, 2,000 of which were recruited in the six months to 31 December – biggest recruitment drive in the airline's history
Air New Zealand’s recovery is well underway, with the airline today announcing statutory earnings before taxation of $299 million1 and revenue of $3.1 billion for the six months ending 31 December 2022 – progress that will enable the airline to support New Zealand’s economic recovery.
Following three years of Covid-related losses, Air New Zealand’s interim result reflects sustained demand strength, particularly across the summer peak period, a return in business travel and overseas tourists, as well as cargo revenues above pre-Covid levels.
Air New Zealand Chair Dame Therese Walsh says she is incredibly proud of the Air New Zealand whānau and their determined efforts to get New Zealanders flying again, especially given the challenges of restarting an airline amid Covid.
“Today’s result reflects an important milestone in our recovery and places us in a strong position to deliver on our strategy,” says Dame Therese.
“When New Zealand’s borders reopened much earlier than expected, our people rose to the occasion, moving swiftly to return aircraft to service, relaunch 29 routes and onboard more than 3,000 employees to support the eight million customers we flew between July and December – the busiest period we’ve seen in over three years.
“Despite some turbulence, we’ve stayed focused on getting our customers where they needed to go while keeping our eyes on the future. This result means we can continue to invest in our fleet, our people and our decarbonisation goals, to deliver the customer experience Air New Zealand is world-renown for.
“But we must acknowledge these results are being announced in the wake of the devastation that the Auckland floods and Cyclone Gabrielle have left behind. Both of these catastrophic events have heavily impacted several regions we fly to, and our hearts go out to all those impacted. We’re committed to supporting those regions however we can.”
Air New Zealand Chief Executive Officer Greg Foran echoed Dame Therese’s comments and praised teams across the business who worked quickly to ensure the safety of our customers and our people.
On the financial performance for the half, Mr Foran noted the result was delivered against a backdrop of significant labour, supply chain and operational pressures that have challenged the airline, and the entire global aviation system.
“Our recovery is well underway and operating performance is improving steadily, but like most airlines globally, we continue to experience challenges that make it hard at times for our fantastic team to deliver the level of service we expect of ourselves, and our customers expect of us,” says Mr Foran.
“We know we have more work to do to tackle customer concerns like long wait times at our call centres, getting planes to depart and arrive on time, lost baggage and getting refunds back in a timely manner. We want to thank customers for bearing with us through these and other challenges since we restarted flying. We’re very aware that flying is not currently the pain-free experience it should be and getting back into shape is a key priority.
“On top of this, air fares are higher than they were pre-Covid. Like many businesses, we’re facing a high inflation environment with increased fuel, labour and other supplier costs at a time when more customers are wanting to travel, and that flows through to ticket prices.
“A key focus for the team has been bringing back much needed capacity to minimise the impact of higher prices on customers. With six Boeing 777-300ER widebody aircraft now returned into service, three new domestically configured A321neo aircraft delivered and a fully crewed leased aircraft to serve the Auckland-Perth route, we are adding capacity back at pace.”
Alongside this, the airline is also working to extend lease agreements, where appropriate, on existing aircraft and making tactical changes to the network to deliver an additional 2.7 million seats, or an extra 10,000 seats a day for the coming northern summer period, which runs from the end of March until the end of October.
“I’m incredibly proud of our people because, despite the challenges we’ve faced, we have fully reopened our international network, launched our flagship service to New York, and improved our onboard food service. We’ve also upgraded our mobile app, grown our Airpoints Store six-fold since 2019 and taken bold steps towards becoming a more sustainable airline. That is no small ask.
“We’re investing in our people, recruiting 2,000 employees in the last six months alone, increasing our lowest wages and supporting new parents by improving parental leave.”
Dame Therese highlighted the airline’s ability to take a long-term view despite the short-term operational challenges, by delivering digital enhancements, beginning construction on a new hangar at Auckland airport, and taking meaningful steps on its decarbonisation journey – all supported by the everyday efforts of a special team.
“We’ve short-listed four world-leading innovators, along with five long-term partners, to help us deliver on our mission to have our first zero-emissions demonstrator flight in the skies in 2026, and a new regional Q300 turboprop fleet from 2030.
“We’ve also welcomed our first shipment of imported Sustainable Aviation Fuel into Aotearoa, which was a huge milestone for us. We’re committed to finding a more sustainable way to connect with the world and know that the future of travel relies on low-carbon air transport.
“As we look ahead to the second half of this financial year, macroeconomic challenges are front of mind, including the financial impact of inflationary pressures and geopolitical uncertainty. At this moment, however, we are observing demand trends that are offsetting these macro headwinds. Air travel is still in the Covid recovery phase with high levels of demand, and the current capacity and supply chain constraints will limit supply at least in the short-term. The new hybrid work environment has also enabled greater freedom and flexibility for customers which we believe will continue to drive domestic leisure bookings.
“While we cannot predict the future, we know this new normal we find ourselves in requires great skill and dexterity to navigate. Having now spent the better part of three years dealing with constant change and flux, our people are the very best in the business to deal with anything that comes our way.”
Distributions
At the capital raise in May 2022, the Board outlined its intention to consider dividends to shareholders no earlier than the 2026 financial year, based on a number of factors including the expected trajectory of demand recovery and the airline’s financial performance.
Air New Zealand has experienced a stronger and faster recovery than initially expected, with borders reopening early, and strong and sustained levels of demand. On this basis, the Board will consider distributions to shareholders in August when the airline announces its 2023 annual financial results.
Outlook for 2023
Looking to the remainder of the financial year, we are optimistic about the levels of demand we continue to observe but acknowledge there is significant uncertainty regarding the overall economic outlook both domestically and internationally, with increasing inflationary pressures, tighter monetary policy and other macroeconomic factors. We also note that the second half of the financial year is typically weaker than the first half.
Against this backdrop and based on the assumption of an average jet fuel price of US$105 per barrel for the second half of the financial year, 2023 earnings before other significant items and taxation are expected to be in the range of $450 million to $530 million. This guidance includes a preliminary estimate of the impact of the Auckland floods and Cyclone Gabrielle.
wow they hired 16-17 people per day for 6 months straight. That's in a tight labour market. Well done AIR
Foran going to make a killing on those millions he invested in the company. good on him
Possibly dividends in august. Might boost SP or st least counter the lower end of guidance result and impacts from east coast.
[QUOTE=Rawz;993557]wow they hired 16-17 people per day for 6 months straight. /QUOTE]
Thats to cover the staggering amount of IP that walked out the door during covid.
Although the result had been pretty much signaled, I am surprised the likely near term return to dividends hasn't had a more of a positive impact on the SP.
Ahh well I guess I'm in for the long haul 😉
Air NZ could have made ‘even more profit’ – Foran Air New Zealand chief executive Greg Foran has defended the airline’s $299 million half-year profit, saying it could’ve made even more money if it wanted to.
After three years of losses, the airline has bounced back into the black. The company expects to report a before-tax profit of $450m to $530m in its full-year results in August.
Read on »
https://businessdesk.co.nz/article/m...8aa6-402467359
Cam Wallace ex AIR and recently resigned from MediaWorks is heading to Qantas as CEO of Qantas International and Freight ......and maybe could even take over as CEO of the whole thing next year
Foran and Wallace don't get along too well so could be interesting
Cam should have taken over from Luxon as CEO …..shame on the Board
https://www.rnz.co.nz/news/business/...hts-from-china
It will be interesting to see if the demand on the domestic market materialises. Just mindful that infrastructure around the country has been hit hard(hope everyone recovers from this). Although the south island appears to left unscathed(touch wood). I am currently on holiday overseas. Something I noticed, when travelling with checked luggage through the domestic network. Checked luggage accounts for 1/3 of my airfare.
With both ferry services having to cancel so many crossings due to mechanical issues the only other way to get there is by air, albeit meant to be a temporary disruption. Then of course road disruptions all over the North Island.
I don’t know whether the ferry disruptions are a comedy of errors or a series of unfortunate events. Either way; maybe AIR could jump on this. Domestic air fares are horrendous these days.
might run out of planes .. wouldn't want to work them too fast though - look what it's done to the ferries and if the Seaman happen to notice there could be more ***** thrown around than a cyclone puts out .. would mounting a Koru on a rowboat with 25 unionised horses do ? ;)
:t_up:
Seems they have already run out of planes, at least for the long haul routes. Not getting all those parked up B777’s back and wet leasing on the Akl-Perth flight. Received a few brand new A321neos recently though with more to come for the domestic market. Up to 50 odd more passengers per leg.
http://nzx-prod-s7fsd7f98s.s3-websit...957/390250.pdf
Dame Therese buying some more....
Another satisfied AIR Customer:
https://www.stuff.co.nz/travel/trave...kings#comments
It's a wonder that AIR didn't also charge for waiting time on the line ;)
Surely the lower / stable oil price must assist profits
I recently flew business return to Asia and was really shocked by the cost cutting. Just to name a few things..
- no newspaper or magazine
- very limited selection of new films
- very limited selections of juice and beer (orange & Steinlarger only on return to AKL)
- no cookie from the snack menu and muesli bar not even full size
- no cheese board or fruit basket on offer, in fact a lot of items on the menu will not be offered unless you ask for them I suspect, it's now on demand, like NetFlix LOL
- WiFi wasn't even working on return to AKL
- the appetizers were served on a tiny plate, meant to be two bite at the most
- no nuts on offered, used to get them with pre-flight drink I remember
- on return to AKL the crew did not even come around 2nd time to offer bread re-fill
- no ice cream for dessert, I remembered many years ago watching a video on youtube and really surprised that ANA even served Haggen-Dazs to their economy class passengers! At least business class passengers were offered premium Whittaker chocolates just before touch down, instead of hard candies.
The crews were wonderful but I'm sure customers in this price range will notice more than a few things missing, so might shop around next time. Business Premier is supposed to be a class between First and Business but felt more like a class between Business and Premium Economy to me. The lie-flat was a real disappointment too, it's so narrow that unless you're skinny and well under 170cm, you'll only feel comfortable lying on your side. My feet especially, felt so cramped when in the lie flat facing the ceiling position. Spoke to my fellow passengers and it's the first time some of them have sat in a non-front facing seat and didn't enjoy the experience at all. They said that they had no idea the seats were arranged this way as the online photos were shot at an angle that doesn't show the true business class lay out.
Anyway, I wonder how much longer Greg is going to be around for? He must be coming up to be the longest serving CEO since Jim McRea LOL. Such a bad idea by the board, to be paying dividend 2yrs earlier than forecasted too, just to please its majority share holder. Should have used the higher than expected revenue to top up the war chest or to reduce its debt.
I don't believe Air NZ are the only ones cost cutting. I had a similar experience on a different airline on longhaul. No hot tea or coffee, no newspaper etc. Entertainment offering was non existent- although this was probably due to a lack of recent movie releases. Airfares were 50% more compared to pre covid and we booked early. The difference was we were in cattle class.
We flew Qatar business to Europe over Xmas - stunning service in the Qsuite.
Everything you could ask for in terms of product and service - it was a shame that the flight wasn't longer :t_up:
Marsden Point has 55m lites of fuel storage capacity, operator says (msn.com)
Interesting comment:
"Buchanan said terminal and pipeline throughputs remained strong, with 810 million litres in the first three months of this year, up 10 million litres from the same time last year, with demand driven by aviation recovery."
No spare engines so two A320s grounded and thousands and thousands of passengers face disruption
Almost as bad as Cook Strait ferries
https://www.rnz.co.nz/news/business/...ngers-impacted
Comment deleted. I dont own it directly anymore. It's in an index somewhere. Not sure how anyone can own airlines directly. Every headline would make it a painful hold.
I'll stick to roaming around the Black Monday thread.
I use to have 44,000 shares during the Happy Times of insanely huge profits and dividends. Those dividends! One day I woke up to the possibility of a Christmas Air NZ strike and I think not long after the SKC convention center caught on fire, which was being built by Fletchers. I owned all three. Id had enough. Indexes and ETFs for me.
Bit more on the engine parts shortage..
https://fortune.com/2023/03/09/airpl...travel-season/