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KMD Brands expects FY22 sales of up to $965m
14 Jul 2022  

KMD Brands expects FY22 sales of up to $965m

KMD Brands says its total sales are expected to be in the range of $955m – $965m for the year ending 31 July 2022.


New operator creates ‘Unforgettable Fun’ for visitors
8 Jul 2022   /

New operator creates ‘Unforgettable Fun’ for visitors

With a focus on having a laugh, a new venture aims to leave guests smiling.


Business confidence among SMEs falls – MYOB
14 Apr 2022   /

Business confidence among SMEs falls – MYOB

Some 68% of local SMEs believe the New Zealand economy will decline in the next 12 months.


Air NZ aims for 60% of pre-Covid capacity for Aus, Pacific by winter
25 Feb 2022  

Air NZ aims for 60% of pre-Covid capacity for Aus, Pacific by winter

But longer haul markets may only be 20% of pre-Covid levels.


Air NZ interim loss widens to $272m
24 Feb 2022  

Air NZ interim loss widens to $272m

The airline predicts a record FY22 loss of more than $800m but plans a capital raise before the end of March.


THL expects interim loss of $4.4m after revenue falls 15%
22 Feb 2022   /

THL expects interim loss of $4.4m after revenue falls 15%

The operator says revenue for the six months to December 2021 fell to $175m.


M&C: One-off land sale lifts hotels into black
21 Feb 2022   /

M&C: One-off land sale lifts hotels into black

Millennium & Copthorne says occupancy across the group fell to 36% for 2021.


Leopard Coachlines goes into liquidation
18 Feb 2022   /

Leopard Coachlines goes into liquidation

After more than 50 years of operating, the company files for voluntary liquidation citing NZ’s border rules as the last straw.


WIAL sees higher passenger numbers, EBITDA for FY22
16 Feb 2022  

WIAL sees higher passenger numbers, EBITDA for FY22

Wellington International Airport Limited expects passenger numbers for this month and the next to track around 40% of levels compared to pre-Covid, parent company Infratil said at an investor briefing Tuesday.


Apollo to unanimously recommend takeover – THL
16 Feb 2022  

Apollo to unanimously recommend takeover – THL

Tourism Holdings Limited’s efforts to purchase Apollo Tourism & Leisure of Australia are progressing with Apollo’s Board intending to unanimously recommend that its shareholders approve the deal.


“We don’t see an environment where we are shut” – SkyCity’s Ahearne
15 Feb 2022  

“We don’t see an environment where we are shut” – SkyCity’s Ahearne

The casino and hotel operator is in hunker down mode as it controls costs before any meaningful return of international tourists.


SkyCity slumps to $33.7m interim loss due to Covid disruptions
14 Feb 2022  

SkyCity slumps to $33.7m interim loss due to Covid disruptions

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THL funds $5.7m purchase of heavy transport maker
26 Jan 2022  

THL funds $5.7m purchase of heavy transport maker

ldings Limited is funding the acquisition of heavy transport manufacturing firm MaxiTRANS in New Zealand by its subsidiary Action Manufacturing for a purchase price of $5.7m.


Air NZ chalks up 10% more domestic flyers in 2021
20 Jan 2022  

Air NZ chalks up 10% more domestic flyers in 2021

Air New Zealand carried more domestic travellers in 2021 than in 2020, despite the biggest market being in lockdown for nearly five months.


Tough conditions drag 1H performance – SkyCity
16 Nov 2021  

Tough conditions drag 1H performance – SkyCity

SkyCity operations have been hurt by trading environments in New Zealand and Australia so far in the first half of the financial year, the casino operator said in an update to investors today.


Tourism Holdings expects FY22 loss, but environment improving
22 Oct 2021  

Tourism Holdings expects FY22 loss, but environment improving

Tourism Holdings Limited reiterated that it expects to make another net loss after tax for the current year to June, but sees the period as having two distinct halves.


NZ revenue dives 84% at Helloworld
8 Sep 2021   /

NZ revenue dives 84% at Helloworld

Helloworld’s New Zealand business saw revenue plummet 83.5% to A$7.8m in the year to June 2021, compared with A$47.3m posted in FY20.


Weak tourism offset by strong freight in FY21 – KiwiRail
1 Sep 2021  

Weak tourism offset by strong freight in FY21 – KiwiRail

Revenue fell at all of the SOE’s scenic train services in a “difficult environment for tourism operators,” says CEO Greg Miller.


NZ tourism divisions drag Australasian operators
31 Aug 2021   /

NZ tourism divisions drag Australasian operators

New Zealand was a drag on earnings for a number of large Australian-based tourism and travel firms, and returning to growth will depend on the effectiveness of the vaccination programme here.


SkyCity’s Ahearne not betting on international visitors before mid-2022
26 Aug 2021  

SkyCity’s Ahearne not betting on international visitors before mid-2022

The operator says lockdown is costing it $1m a day in profit but it is paying back almost $7m of the wage subsidy it received last year.


Auckland Airport reports underlying loss of $41.8m
19 Aug 2021  

Auckland Airport reports underlying loss of $41.8m

Total passenger traffic through the airport was down 58% on the previous financial year at 6.4 million passengers.


Queenstown Airport profit falls 91% as revenue takes a hit
19 Aug 2021  

Queenstown Airport profit falls 91% as revenue takes a hit

nternational passengers fell 95.7% due to Covid-19 border restrictions and domestic passengers increased by 1.9% on the 2020 financial year supported by a strong domestic recovery.


Tasman Tourism eyes expansion, targets tourist centres – Aflallo
12 Aug 2021  

Tasman Tourism eyes expansion, targets tourist centres – Aflallo

Holiday park operator Tasman Tourism New Zealand is hoping to expand its portfolio of assets and create a database of potential employees to tap when the time is right.


Go Bus acquires McDermott in southern expansion
2 Aug 2021   /

Go Bus acquires McDermott in southern expansion

Go Bus has acquired Invercargill-based McDermott Coachlines.


NZICC deadline pushed three years to Dec 2027
14 Jul 2021   /

NZICC deadline pushed three years to Dec 2027

SkyCity says it is “prudent to have a buffer” between Fletcher’s current delivery date of late 2024 and the project’s deadline.


WellingtonNZ appoints TIA for sustainability programme
14 Jul 2021   /

WellingtonNZ appoints TIA for sustainability programme

WellingtonNZ aims to share lessons learned from programme with rest of New Zealand after pilot complete.


Union urges SkyCity to lift pay rate
9 Jul 2021   /

Union urges SkyCity to lift pay rate

Unite Union is calling on SkyCity to increase pay rates by at least $2 per hour to provide a living wage for its employees.


Ngāi Tahu to repay $2.4m in wage subsidies
6 Jul 2021   /

Ngāi Tahu to repay $2.4m in wage subsidies

Ngāi Tahu Tourism was one of the businesses that received government support but the iwi says it will pay most of it back.


Serko appoints new CFO to start October
6 Jul 2021   /

Serko appoints new CFO to start October

Online travel booking and expense management firm Serko has appointed Shane Sampson chief financial officer.


Flight Centre rolls-out global staff retention scheme
28 Jun 2021  

Flight Centre rolls-out global staff retention scheme

Qualifying staff to receive share rights vesting in February 2023.


BEIA releases NZ event planner guide with regional focus
22 Jun 2021  

BEIA releases NZ event planner guide with regional focus

More than 2,500 copies distributed to business event organisers in Australia and New Zealand.


Taranaki businesses struggle as border closure continues
21 Jun 2021   /

Taranaki businesses struggle as border closure continues

Lack of overseas visitors, difficultly in finding migrant workers cited.


Air NZ expects FY21 pretax loss of up to $450m
18 Jun 2021   /

Air NZ expects FY21 pretax loss of up to $450m

Red ink at national carrier seen as staunched somewhat compared to last FY due to strong domestic, cargo.


Polynesian Spa owner swings into black
16 Jun 2021  

Polynesian Spa owner swings into black

Rangatira’s tourism operations drag on other sectors in its investment portfolio.


“Strong” domestic demand drives new SkyCity guidance
11 Jun 2021  

“Strong” domestic demand drives new SkyCity guidance

The operator says normalised FY21 earnings could reach $253m.


SkyCity board appoints non-executive directors
9 Jun 2021   /

SkyCity board appoints non-executive directors

New appointees take up posts 8 June.


Southern Discoveries doubles domestics, predicts long recovery
25 May 2021   /

Southern Discoveries doubles domestics, predicts long recovery

“We don’t see a bounce-back in 2022,” says the operator’s CEO, Tim Hunter.


90% revenue down, 100+ workers gone, no govt help – coachline’s crisis
20 May 2021  

90% revenue down, 100+ workers gone, no govt help – coachline’s crisis

Leopard Coachlines director Brent Early says his business is suffering and the govt has abandoned the industry.


Serko posts $29m loss, sees brighter travel bookings future
19 May 2021   /

Serko posts $29m loss, sees brighter travel bookings future

Travel volumes for April 2021 were at 84% of 2019 levels.


THL guides FY21 loss of up to $18m
23 Apr 2021   /

THL guides FY21 loss of up to $18m

Stong RV sales in the US is bringing in revenue but rental demand is slow due to the lack of visitors.


Quinn makes bid for Taupo motorsport attraction
21 Apr 2021  

Quinn makes bid for Taupo motorsport attraction

Tony Quinn has made a conditional buyout offer for the Bruce McLaren Motorsport Park Taupo.


S&P upgrades SkyCity as revenue outlook improves
20 Apr 2021  

S&P upgrades SkyCity as revenue outlook improves

Capex on the NZICC and Horizon Hotel development is likely past its peak, says the global ratings agency.


Aus fund manager Yarra takes substantial SkyCity interest
16 Apr 2021  

Aus fund manager Yarra takes substantial SkyCity interest

Change affects 8.63% of voting power in casino operator, effective 12 April.


‘Trapped’ tourists drive retailer’s earnings up
23 Mar 2021  

‘Trapped’ tourists drive retailer’s earnings up

The company has been able to capitalize on campers, surfers, rock climbers and kayakers trapped in NZ and Australia with time and income.


Cash burn rate key for Air NZ as Covid crisis continues
26 Feb 2021  

Cash burn rate key for Air NZ as Covid crisis continues

“Compared to most of our global peers, we are in a very fortunate position,” said chief executive Greg Foran.


Tourism Holdings sanguine about holiday pay ruling
3 Feb 2021   /

Tourism Holdings sanguine about holiday pay ruling

Tourism Holdings’ chief executive Grant Webster says a court ruling about holiday pay won’t have a material impact on the company but some companies may need to review processes.


cievents closure sees trio launch new incentives firm
9 Dec 2020   /

cievents closure sees trio launch new incentives firm

Starting a new business in the middle of the pandemic may be a scary idea to some, but was necessary to deliver what was promised to clients, says the new directors of Motive Events. 


SkyCity chair: Senior executive departures a ‘stable transition’
17 Nov 2020   /

SkyCity chair: Senior executive departures a ‘stable transition’

SkyCity chairman Rob Campbell told investors and analysts that the departure of chief executive Graeme Stephens was not unusual or entirely unexpected.


Centuria renews takeover bid for Augusta
16 Jun 2020  

Centuria renews takeover bid for Augusta

NZX-listed Augusta Capital is again the target of a takeover, with Australian company Centuria renewing an earlier bid.


Govt wage subsidy – which operators got the most?
20 Apr 2020   /

Govt wage subsidy – which operators got the most?

Payouts for the Government’s wage subsidy scheme neared $10bn by the end of last week as businesses from across the country seek support during the Covid-19 crisis.