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>The headwinds in front of Air New Zealand (AIR) are strengthening.</li><li>Management has downgraded market earnings expectations again in light of weakening demand across its domestic and trans-Tasman business.</li><li>Long-haul has been largely immune to date, but given steadily recovering market capacity we expect a weaker long-haul story to emerge over the next six to 12 months, particularly from New Zealand outbound travellers. </li></ul>

The headwinds in front of Air New Zealand (AIR) are strengthening.Management has downgraded market earnings expectations again in light of weakening demand across its domestic and trans-Tasman business.Long-haul has been largely immune to date, but given steadily recovering market capacity we expect a weaker long-haul story to emerge over the next six to 12 months, particularly from New Zealand outbound travellers. 

Air New Zealand - Lacks Pax, Downgrade to UNDERPERFORM