- New Zealand is currently operating under the red setting after a cluster of cases related to Omicron emerged in the country.
- Air NZ made 2 new appointments for its executive team on Thursday.
- Auckland Airport announced on Tuesday that its first price reset for the Price Setting Event 4 (PSE4) had been delayed by 12 months.
The latest COVID-19 strain, Omicron, is wreaking havoc across nations with cases in some countries reaching record highs.
New Zealand is currently operating under the red setting after a cluster of cases related to the new variant emerged in the country that did not have any connection to the border.
Domestic travel is open in NZ under the red setting, but the risk of undetected community transmission stays high in the country.
On this note, let’s see how these 4 NZX travel stocks are doing as Omicron hits the country.
Image source: © 2022 Kalkine Media®, Data source- Refinitiv
Air NZ made 2 new appointments for its executive team on Thursday as the airline is preparing for air travel recovery.
Alexandria Marren will be working as AIR’s Chief Operating Officer and is expected to join in late March this year. Mike Williams will be joining as Chief Transformation & Alliances Officer from 1 February 2022.
The appointments are likely to bring experience and skills to help the airline in delivering better results and emerge strongly amid the COVID-19 pandemic, as per Greg Foran, AIR’s CEO.
AIR ended the day 1.06% in red to close at $1.405.
Auckland Airport announced on Tuesday that its first price reset for the Price Setting Event 4 (PSE4) has been delayed by 12 months.
The airline is planning to adjust its present $2 plus GST charge for every international and transit passenger. This was done to recover extra costs incurred, separating out the international terminal to enable quarantine-free travel.
AIA ended the day 2.41% in red to close at $7.29.
Tourism Holdings Limited (NZX:THL)
Tourism Holdings notified on Tuesday that its joint venture partner Action Manufacturing had inked a deal to buy the business and assets of MaxiTRANS in NZ for nearly $5.7 million.
MaxiTRANS functions in the heavy transport manufacturing industry and is likely to produce revenue of over $18 million for the 12 months ending 30 June 2022. The acquisition is expected to be fulfilled by February end.
THL ended the day 0.74% in green to close at $2.74.
Serko raised nearly $8.3 million in gross proceeds from its Retail Offer last month. The Offer was a part of the equity raising plan of the Company, where the Company undertook a placement of $75 million.
The Company plans to redefine business travel and expects a prosperous year ahead as businesses return to travel.
SKO ended the day 2.69% in green to close at $5.35.
A number of people infected with Omicron are likely to rise in coming days in NZ. Hence, only important travel plans must be made to flatten the curve and not trouble the health system.
(NOTE: Currency is reported in NZ Dollar unless stated otherwise)