- NZ’s borders reopened to vaccinated visitors from 60 visa-waiver countries on 1 May, after opening up to Australians and returning Kiwis in April.
- Air NZ launched a new inflight safety video on 5 May.
- Serko expects its FY22 revenue to be between $18 million and $20.5 million.
NZ is reopening its border in stages after remaining closed for nearly 2 years as the country shut its borders to prevent the impact of the COVID-19 outbreak.
NZ’s borders reopened to vaccinated visitors from 60 visa-waiver countries on 1 May, after opening up to Australians and returning Kiwis in April. This vaccinated group can enter NZ and do a self-test when they arrive without undergoing any managed isolation if the test comes negative.
International visitors from other countries will be able to enter NZ in October if the government considers it safe to proceed with the move.
Amid this backdrop, let’s see how these 3 NZX travel stocks are doing in May.
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Air New Zealand is the national carrier of NZ that provides passenger and cargo transport services.
The airline launched a new inflight safety video on 5 May that has the theme of Tiaki, which means caring for people, places and cultures. The video will play on all its domestic and international flights from next week.
Air NZ shares resumed trading on 5 May post completion of the shortfall bookbuild under its rights offer. The Group raised $1.2 billion through its equity rights offer.
AIR ended the day 2.45% in red to close at $0.795.
Auckland International Airport, founded in 1960, is the largest airport of NZ.
The airport’s total passenger volumes dropped 19.9% in February 2022 compared to the same month in 2021. The same figure fell by a lower 14.8% in March 2022 on the same month in 2021, as per the AIA’s monthly traffic preview for March.
International passenger demand increased in March as isolation requirements were removed for arriving Kiwis and permanent residents. Domestic traffic also showed improvement in the last week of March, delivering 40% of the pre-COVID-19 levels.
AIA ended the day 1.52% in red to close at $7.76.
Serko Limited (NZX:SKO)
Serko is an online travel booking and expense management firm. The Group has been seeing positive transaction growth since 3 February 2022. Serko’s Booking.com business volumes have been rising consistently on a weekly basis since late January 2022.
Serko’s Australian volumes grew nearly 60% of the 2019 volumes while NZ volumes have stayed at subdued levels.
Serko expects its FY22 revenue to be between $18 million and $20.5 million.
SKO ended the day 1% in red to close at $4.95.
Tourism was one of the worst-affected sectors due to measures taken to contain COVID-19. As NZ opened its borders, travel operators are expecting a boost in the sector after experiencing a difficult time in previous 2 years.
(NOTE: Currency is reported in NZ Dollar unless stated otherwise)