Corporate & Results

The SOE’s scenic train operations saw revenue jump more than 600% in FY23.

Hawke’s Bay Airport has reported revenue of $12.7m for the year to June 2023, up 89.6% on the previous corresponding period.

The airline also notes increased competition coming from Qantas, and US and Chinese carriers.

Skyline Enterprises has postponed its annual shareholders meeting until October due to the impact of last week’s state of emergency in Queenstown.

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The action comes after a complaint from a former customer, who gambled at SkyCity Auckland.

Auckland Council has sold 7% of shares in Auckland International Airport Limited for an average of $8.11 per share, bringing in around $833m.

Christchurch International Airport Limited has reported net profit after tax of $36.84m for the year to June 2023, down 38% on the previous period.

Around 1,800 staff will receive $1,000 worth of shares or equivalent as the operator returns to profitability.

Port of Tauranga expects 108 cruise ship visits during its 2024 financial year, up 23% from the 88 recorded in FY23.

But uncertainty and volatility prevents the airline from providing guidance for FY24.

International seat capacity recovered to 90% of pre-pandemic levels, and domestic to 89%.

However, its reported net profit was only $8m after nearly $100m in provisions and impairments over the SkyCity Adelaide probe.

Queenstown Lakes District Council, which owns 75.01% of QAC, will be paid $11.66m in dividends for the year, which the airport operator equated to nearly $390 per ratepayer. Auckland Airport, which owns 24.99% of QAC, will be paid $3.94m.

RealNZ has sought Commerce Commission approval for its purchase of Southern Discoveries’ Spirit of Queenstown vessel based at Lake Wakatipu.

Napier Port has reported revenue from cruise ships to $5.3m for the nine months to 30 June 2023.

The iwi-owned operator of Shotover Jet and Dart River Adventures says the deal would not significantly lessen competition.

SkyCity Entertainment has allocated A$45m ($49m) for any penalty arising out of the probe into its Adelaide casino.

The company’s international patronage will be back to pre-Covid levels by October, says Souter Holdings Fullers.

Queenstown Airport Corporation has converted its $100m bank lending facilities to sustainability-linked loans.

The operator returns to profit after reporting loses for the past two years because of Covid.

The return of international visitors and competition for labour appears to have driven wages up significantly at the Queenstown-based group.

Marlborough Tour Company has acquired adventure tour operator Picton-based Wilderness Guides.

Helloworld shareholders will meet at the end of July to vote on the travel agent’s A$70m ($75m) acquisition of Express Travel Group.

The 51% owner of the Rotorua attraction notes the new competition coming from Wai Ariki.

Hawke’s Bay Airport is forecasting more than 692,000 passengers through its terminal and nearly $14m in revenue for the year to June 2026.

Rangatira Investments says its recovering tourism attractions have helped it return a net profit of $20.4m for the year to 31 March 2023, up 122% on the previous 12 months.

Revenue jumps by 49% to $183m, “with the reopening of international travel markets a strong contributor to that result”.

A liquidation process will begin today with a sale of RAL’s ski operations still possible.

Auckland Airport has revised its dividend policy to 90% of underlying net profit to support its multi-billion dollar terminal upgrade programme.

Auckland Airport has rejected criticism from airlines that increases to its landing charges will significantly impact flights to New Zealand and tourism’s future.

The airline said today that it expected earnings to be at least $580m, which is above the $510m – $560m range that it forecast in April.

A review into SkyCity Adelaide will soon resume once a new independent expert is appointed to lead the investigation.

It will be a big comeback for the operator, which struggled through the pandemic but is now preparing for significant growth.

Tourism Holdings Limited and its financial advisor on its Apollo Tourism & Leisure takeover, Jarden, have won the M&A Transaction of the Year accolade at the Institute of Finance Professionals in New Zealand Awards.

Millennium & Copthorne NZ hopes the purchase will open doors to further deals across the ditch.

A robot concierge, robot vacuums, as well as self-service kiosks for hotels and Sky Tower ticketing are among the automation initiatives under way at SkyCity Entertainment Group.

Napier Port has reported cruise revenue of $5.1m for the six months to 31 March 2023.

The business travel platform says its FY23 NZ bookings were 136% of pre-pandemic levels.

Wellington Airport has posted a net profit of $25.24m for the 12 months to 31 March 2023, up 730.26% on the year prior.

Auckland Airport has launched its retail bond offer of up to $100m of five and a half year fixed rate bonds to New Zealand investors, with an ability to accept up to $50m in oversubscription.

Auckland International Airport Limited is considering an offer of fixed-rate bonds to New Zealand retail and institutional investors, maturing in November 2028.

THL-owned Action Manufacturing has purchased transport refrigeration company Transcold for $5.4m.

The airline now expected its earnings before other significant items and taxation for FY23 to be in the range of $510m to $560m.

The NZ hotel operator is in a joint venture to acquire a 5-star Sofitel for around $190m.

Motive Group has acquired the HOST Accommodation Group network, which comprises seven motels and motor lodges around New Zealand.

Kathmandu owner KMD Brands Limited has reported record first-half sales of $547.9m for the six months to 31 January 2023, up 34.5% on the previous corresponding period.

Queenstown Lakes District Council is expecting an improved dividend from Queenstown Airport Corporation to help offset rates rise of 13.6%.

Strong air travel and tourism contributed to Waikato Regional Airport Limited’s (WRAL) net surplus after tax of $17.7m for the six months to December 2022.

A new entity owned by Ruapehu Alpine Lifts life pass members and Sky Waka bondholders was the government’s preferred solution to save skiing at Mt Ruapehu after the operator went into voluntary administration.