New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>Air New Zealand (AIR) has upgraded its 1H23 earnings guidance.</li><li>Its new PBT range of NZ$295m-NZ$325m compares to its previous range of NZ$200m-NZ$275m.</li><li>Lower fuel costs account for ~NZ$20m of the upgrade with the remainder reflecting continued strong demand, with AIR benefiting from reduced industry capacity and a super-strong yield environment.</li></ul>

Air New Zealand (AIR) has upgraded its 1H23 earnings guidance.Its new PBT range of NZ$295m-NZ$325m compares to its previous range of NZ$200m-NZ$275m.Lower fuel costs account for ~NZ$20m of the upgrade with the remainder reflecting continued strong demand, with AIR benefiting from reduced industry capacity and a super-strong yield environment.

Air New Zealand

Air New Zealand: Guidance Upgrade