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Auckland International Airport has successfully completed its placement of $1bn worth of shares.
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.
A “significant number” of employees have been placed on leave, been furloughed, or have left, says the operator.
The operator says it will become a “much smaller, domestically focused” business.
There may be worse to come as investors take the hit and run to cash, says a broker.
Tourism Holdings has cancelled its interim dividend and slashed the salaries of its senior executives.
The Auckland-based operator says that closure of casinos may soon be on the cards.
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.
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.
The NZX has placed a trading halt on Auckland International Airport Limited’s ordinary shares.
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.
Income from the SOE’s Interislander and scenic trains services fell in the six months to December 2019.
Revenue from the operator’s NZ tourism businesses fell in the six months to December.
Air New Zealand chief executive Greg Foran has embarked on a “diagnostic” cost cutting programme of the airline.
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.
Online travel booking company Serko’s share price is among the tourism-related stock to take a hit this week.
The airline also says it will suspend its Korea service, reducing Asia capacity by 17% until June this year.
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 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’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.
A new domestic jet hub and a $350m+ arrivals area at the international terminal have been unveiled.
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.”
A slowdown in its international business, even before coronavirus, has prompted caution from the operator.
The operator says in its interim results that it has claimed around $240m in insurance from the NZICC fire.
Market watchers are anticipating in-depth reports about how tourism companies are coping with coronavirus and the financial impact they expect.
The hotel group says it expects to miss out on more revenue because of the outbreak.
The operator gave the guidance in light of the “significant and uncertain events facing the tourism industry”.
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.
The sale of a 33% stake in the operator marks the start of a new chapter for the business.
Tourism stalwart Michael Becker has bought into Auckland Seaplanes and Waiheke Wings as the scenic flight operator sets course for growth.
One of Australasia’s most acquisitive operators in recent years has put that strategy in reverse with the announcement that it is now selling businesses, most of which were bought in the past three years.
Strong growth in New Zealand and Australia has seen ‘pleasing’ results for online travel booking and expense management firm Serko.
A bumper cruise season contributed to a strong year for Napier Port, which saw revenue and earnings ahead of the forecast prepared for its Initial Public Offering in July.
The operator has posted a 7.7% increase in passenger numbers, as it ploughs ahead with a $4.4m upgrade.
The CEO on the current slowdown, responding to aggressive pricing, and NTT’s Queenstown hotpools and electric jet boat projects.
One of Australasia’s most acquisitive operators has warned of a decline in earnings for FY20 and has launched a strategic review to help turn around its performance.
An 8% increase in passenger numbers to Hamilton Airport and the addition of the airport hotel to the portfolio have helped drive a 22% increase in operating revenue at Waikato Regional Airport Limited.
Brother and sister John Managh and Mary Hamilton have taken back full ownership of RV rental operator Wilderness Motorhomes after buying out the company’s chair, Michael Becker.
Ngāi Tahu Tourism’s operations and board are being restructured as part of a wide-ranging review of the group kicked-off by Ngāi Tahu Holdings chair Mark Tume.
A 19.9% increase in income from passenger services was one of the few highlights in Wellington International Airport Limited’s latest interim results.
Tourism Holdings has advised its 2019 Annual Meeting will now take place Thursday 31 October 2019, at 2pm.
Tourism Holdings has postponed its annual general meeting scheduled for 2pm today at Auckland’s Heritage Hotel.
The Alpe brothers’ JUCY Group has negotiated a new six-year lease of a 1.34ha Helensville property the rental vehicle company has occupied since 2010.
The operator’s margins are being squeezed by heavy discounting in the sluggish market.
Skyline and its former chair get the deal across the line.
The operator is considering bringing the deal worth tens of millions to market after failing to sell to its former chair.
While pay for New Zealand’s top tourism executives might pale next to the $25m paid to Qantas CEO Alan Joyce, most of the industry’s top bosses enjoyed pay rises in FY19.
Air New Zealand’s Chris Luxon is toppled from the top tourism earner’s spot.
Air New Zealand is merging its two regional subsidiaries into its main jet business to “achieve better operational alignment”, says the airline.
The acquisitive operator has launched a review of all its businesses following a A$62.2m write down.