ANZ shares rise 5.6% as airline flags earnings to more than double

Victoria
By Victoria April 24, 2013 11:46

ANZ shares rise 5.6% as airline flags earnings to more than double

Air New Zealand’s shares rose 5.6% after the NZ flag carrier stated its annual earnings will more than double.
The airline expects normalised annual pre-tax earnings, which strips outs unrealised movements in derivatives used to hedge its exposures, to be between $235 million and $260 million in the 12 months ended June 30, from $91m posted in 2012, translating to a gain of between 158% and 186%. All this should mean that 2nd half earnings have risen from $58m to over $100m.
On the news ANZ shares rose 8 cents to $1.52 bringing gains to over 10% so far in 2013.
ANZ carried 1.362 million passengers in March, 5.2% up on last year translating to a 2.8% increase in RPKs. For the year to date passenger numbers are up 2.4% to 10.23m with RPKs up 3.9%.

Victoria
By Victoria April 24, 2013 11:46
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