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Corporate

Your search for "Corporate" found 50 results


Auckland Airport cuts 25% of staff, profit expectations tumble
1 Jul 2020   /

Auckland Airport cuts 25% of staff, profit expectations tumble

Auckland Airport has carried out a swathe of cost cutting as it reports an expected slump in after-tax profit.


Augusta: $27m loss due mainly to undeveloped hotels
29 Jun 2020   /

Augusta: $27m loss due mainly to undeveloped hotels

Augusta Capital’s annual net loss of $27m was mainly driven by write downs in the value of two tourism properties.


THL guides FY20 profit fall of up to 37%
26 Jun 2020   /

THL guides FY20 profit fall of up to 37%

The operator says it has secured a $225m debt facility with its existing bankers.


Serko posts loss after suffering 90% fall in March bookings
24 Jun 2020  

Serko posts loss after suffering 90% fall in March bookings

Tourism booking levels were down 90% compared on March compared with the same month a year ago, booking software company Serko has reported.


SkyCity $180m placement fully subscribed
19 Jun 2020  

SkyCity $180m placement fully subscribed

SkyCity Entertainment Group has completed its $180m institutional placement.


Air NZ forecasts FY20 $120m underlying loss
19 Jun 2020   /

Air NZ forecasts FY20 $120m underlying loss

The airline will also incur restructuring costs of between $140m and $160m.


SkyCity seeks $390m in equity, debt raise
18 Jun 2020   /

SkyCity seeks $390m in equity, debt raise

The company wants to bolster its balance sheet to help cope with the impacts of Covid-19.


Top executives resign from Tourism Holdings
17 Jun 2020   /

Top executives resign from Tourism Holdings

The resignations are the latest high-profile departures from the country’s beleaguered tourism industry.


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.


Air NZ responds to capital raise report
11 Jun 2020   /

Air NZ responds to capital raise report

Air New Zealand has highlighted its $900m facility from the Government in response to speculation it is considering a capital raise both here and in Australia.


Wellington Airport secures $76m from owners
11 Jun 2020   /

Wellington Airport secures $76m from owners

Wellington International Airport Limited has secured a $75.76m facility from its two shareholders to help cope with the impact of Covid-19.


THL shares jump after Waitomo secures $4m Govt support
5 Jun 2020   /

THL shares jump after Waitomo secures $4m Govt support

Tourism stocks have rallied with Tourism Holdings leading the charge.


Operators’ share prices rise after restructuring
28 May 2020   /

Operators’ share prices rise after restructuring

Tourism companies listed on the stock exchange have recovered some lost ground this week after announcing restructuring.


Cruise ship revenue lifts Napier Port interim profit
27 May 2020   /

Cruise ship revenue lifts Napier Port interim profit

The port’s higher revenue from pre-Covid cruise ship visits has helped lift profit.


Air NZ warns of FY20 loss, ups job cuts estimate to 4000
26 May 2020   /

Air NZ warns of FY20 loss, ups job cuts estimate to 4000

The restructuring is expected to cost up to $160m, says the airline.


Serko highlights financial strength, share price eases
5 May 2020  

Serko highlights financial strength, share price eases

Sharemarket investors remain cautious despite cash flow assurances by NZX-listed online travel booking software company, Serko.


SkyCity, Govt set new NZICC delivery deadline
1 May 2020   /

SkyCity, Govt set new NZICC delivery deadline

SkyCity Entertainment and the Government have set the delivery deadline for the New Zealand International Convention Centre to be the start of 2025.


$200m Auckland Airport share offer oversubscribed
30 Apr 2020   /

$200m Auckland Airport share offer oversubscribed

The successful issue follows a $1bn raise earlier this month.


Bayleys acquires Resort Brokers
28 Apr 2020   /

Bayleys acquires Resort Brokers

Bayleys Realty Group has bought tourism property and business specialist Resort Brokers.


Up to 300 jobs to go as Ngāi Tahu Tourism closes doors
23 Apr 2020   /

Up to 300 jobs to go as Ngāi Tahu Tourism closes doors

Ngāi Tahu Tourism could lose nearly two-thirds of its workforce as its operations shut for the foreseeable future.


Air NZ’s share price has taken off – why?
22 Apr 2020   /

Air NZ’s share price has taken off – why?

Mystery surrounds a surge in the airline’s stock price of nearly 70%.


Auckland Airport raises $1bn in share placement
8 Apr 2020   /

Auckland Airport raises $1bn in share placement

Auckland International Airport has successfully completed its placement of $1bn worth of shares.


Auckland Airport seeks $1.2bn for Covid-19 recovery
6 Apr 2020   /

Auckland Airport seeks $1.2bn for Covid-19 recovery

Auckland International Airport says it will raise up to $1.2bn to ensure it remains well capitalised during the Covid-19 lockdown and prepared for recovery.


THL cuts labour costs by 60%, moves to exit Togo jv
6 Apr 2020   /

THL cuts labour costs by 60%, moves to exit Togo jv

A “significant number” of employees have been placed on leave, been furloughed, or have left, says the operator.


SkyCity makes 200 redundant, cuts exec pay and capex
3 Apr 2020   /

SkyCity makes 200 redundant, cuts exec pay and capex

The operator says it will become a “much smaller, domestically focused” business.


“It’s pretty ugly” – tourism stocks under pressure
24 Mar 2020   /

“It’s pretty ugly” – tourism stocks under pressure

There may be worse to come as investors take the hit and run to cash, says a broker.


Tourism Holdings cancels dividend, cuts salaries
20 Mar 2020   /

Tourism Holdings cancels dividend, cuts salaries

Tourism Holdings has cancelled its interim dividend and slashed the salaries of its senior executives.


SkyCity nearly halves earnings forecast, warns of uncertainty
19 Mar 2020   /

SkyCity nearly halves earnings forecast, warns of uncertainty

The Auckland-based operator says that closure of casinos may soon be on the cards.


Tourism stocks tumble again as Covid-19 spreads
17 Mar 2020   /

Tourism stocks tumble again as Covid-19 spreads

NZX-listed tourism stocks continued to be hit by the coronavirus pandemic with temporary trading halts by Air New Zealand and hotel operator Millennium & Copthorne stemming the tide.


Travel bans hit Auckland Airport, THL earnings guidance
13 Mar 2020   /

Travel bans hit Auckland Airport, THL earnings guidance

Auckland Airport and Tourism Holdings have both revisted their earnings guidance in the wake of international border restrictions as governments seek to combat the COVID-19 outbreak.


Auckland Airport in NZX trading halt
12 Mar 2020   /

Auckland Airport in NZX trading halt

The NZX has placed a trading halt on Auckland International Airport Limited’s ordinary shares.


Costs, flat passenger numbers hit Christchurch Airport
2 Mar 2020   /

Costs, flat passenger numbers hit Christchurch Airport

The late opening of a Novotel hotel and higher operating expenses, insurance and rates reduced Christchurch International Airport Limited’s profit for the six months ending December 2019.


Tourism revenue falls at KiwiRail
2 Mar 2020   /

Tourism revenue falls at KiwiRail

Income from the SOE’s Interislander and scenic trains services fell in the six months to December 2019.


THL interim profit falls 25%, NZ tourism revenue drops
28 Feb 2020   /

THL interim profit falls 25%, NZ tourism revenue drops

Revenue from the operator’s NZ tourism businesses fell in the six months to December.


Air NZ boss embarks on “diagnostic” cost cutting programme
28 Feb 2020   /

Air NZ boss embarks on “diagnostic” cost cutting programme

Air New Zealand chief executive Greg Foran has embarked on a “diagnostic” cost cutting programme of the airline.


Air NZ costs drive interim profit down 33%
27 Feb 2020   /

Air NZ costs drive interim profit down 33%

Air New Zealand’s costs outstripped increased passenger revenue and it has reported a sharp fall in after-tax profit for the six months ending December 2019.


Serko downgrades revenue as share price suffers
26 Feb 2020   /

Serko downgrades revenue as share price suffers

Online travel booking company Serko’s share price is among the tourism-related stock to take a hit this week.


Coronavirus to cost Air NZ up to $75m in FY20 earnings
24 Feb 2020   /

Coronavirus to cost Air NZ up to $75m in FY20 earnings

The airline also says it will suspend its Korea service, reducing Asia capacity by 17% until June this year.


Foreign arrivals growth drives QAC profit up 30%
24 Feb 2020   /

Foreign arrivals growth drives QAC profit up 30%

Queenstown Airport Corporation (QAC) has delivered a firm bottom line profit after expenses and tax of $10.8m, up by $2.5m (30%) compared with the same previous corresponding period.


Skyline suffers 50-60% coronavirus hit in Singapore
21 Feb 2020   /

Skyline suffers 50-60% coronavirus hit in Singapore

Skyline Enterprises’ gondola, luge, and restaurant operations in Queenstown and Rotorua have seen a 12-15% drop in numbers as a result of Coronavirus, while its Sentosa Luge in Singapore is down 50-60%.


Experience Co: Poor weather impacts NZ operations
21 Feb 2020   /

Experience Co: Poor weather impacts NZ operations

Experience Co’s New Zealand jump sites saw tandem volume fall to 23,414 for the six months to 31 December 2019, down 14.4% on the same period a year earlier.


Auckland Airport unveils $1.2bn revamp, reports flat interims
20 Feb 2020   /

Auckland Airport unveils $1.2bn revamp, reports flat interims

A new domestic jet hub and a $350m+ arrivals area at the international terminal have been unveiled.


Alpe family makes JUCY deal with 50% Snooze sale to drive growth
19 Feb 2020   /

Alpe family makes JUCY deal with 50% Snooze sale to drive growth

The Alpe family’s JUCY group has sold a 50% stake in its pod-hotel business to Australian-listed EVENT Hospitality & Entertainment to kick-start expansion across “New Zealand, Australia and beyond.”


SkyCity pushes pause on luxury Queenstown development
14 Feb 2020   /

SkyCity pushes pause on luxury Queenstown development

A slowdown in its international business, even before coronavirus, has prompted caution from the operator.


SkyCity: Underlying revenue, profit down, NZICC won’t host APEC
13 Feb 2020   /

SkyCity: Underlying revenue, profit down, NZICC won’t host APEC

The operator says in its interim results that it has claimed around $240m in insurance from the NZICC fire.


Coronavirus top of mind for investors as reporting season starts
11 Feb 2020   /

Coronavirus top of mind for investors as reporting season starts

Market watchers are anticipating in-depth reports about how tourism companies are coping with coronavirus and the financial impact they expect.


Millennium loses up to $3m on coronavirus cancellations
11 Feb 2020   /

Millennium loses up to $3m on coronavirus cancellations

The hotel group says it expects to miss out on more revenue because of the outbreak.


Tourism Holdings: NPAT to fall 14% to $24m for FY20
7 Feb 2020   /

Tourism Holdings: NPAT to fall 14% to $24m for FY20

The operator gave the guidance in light of the “significant and uncertain events facing the tourism industry”.


Rangatira: Rainbow’s End lightning strike affects results
4 Dec 2019   /

Rangatira: Rainbow’s End lightning strike affects results

The owner of Auckland’s Rainbow’s End and Rotorua’s Polynesian Spa has painted contrasting pictures for the two attractions in its latest interim results for the six months to September 2019.


In-depth: The next chapter for Auckland Seaplanes
29 Nov 2019   /

In-depth: The next chapter for Auckland Seaplanes

The sale of a 33% stake in the operator marks the start of a new chapter for the business.