AUS
NZ
UK
CA
USA
IND
Highlights
- NZ borders are shut as the country continues to battle Delta variant community outbreaks.
- NZ RegCo provided a waiver to Air NZ from the NZX Listing Rule 5.1.1 and Rule 5.2.1 on Thursday.
- THL clarified that it was not considering ASX dual listing, responding to a commentary on the same.
New Zealand has shut its borders to nearly all travellers to halt the spread of COVID-19.
As New South Wales and other states battled to manage their Delta outbreaks, the NZ government had halted quarantine-free travel from Australia to NZ for a 2-month period in July. The trans-Tasman bubble will stay blocked for at least another two months as issues with the Delta variant continue on both sides of the Tasman. However, New Zealand prime minister Jacinda Ardern has recently allowed people to cross Auckland borders under special cases.
On Wednesday, National Party proposed a reopening plan where travellers will not have to undergo managed isolation under certain cases once NZ vaccinates over 85% of its 12+ population.
Amid this backdrop, let’s have a look at how these 4 travel and tourism stocks are doing.
Image source: © 2021 Kalkine Media New Zealand Ltd, Data source- EODHD/Others
Auckland International Airport (NZX:AIA)
Auckland International airport operator, AIA, provided a trading update on its traffic numbers on 14 September. The Group provided estimated losses to the airline from the effects of lockdown and related restrictions.
The Group also began drawing down further on the Crown standby loan facility and recently asked for extra drawdowns totalling $435 million.
RELATED READ: How are 2 NZX airlines stocks faring in Q3?
AIA ended the day 1.76% in green to close at $0.135.
Air New Zealand (NZX:AIR)
NZ-based domestic and international passenger and cargo service provider, Air NZ, released an update on Thursday.
The update revealed that NZ RegCo had granted a waiver to AIR from the NZX Listing Rule 5.1.1 and Rule 5.2.1 to the extent necessary to permit AIR to enter into and execute loan arrangements without wanting to obtain shareholder approval.
DO READ: Why Air NZ’s (NZX:AIR) Annual Meeting 2021 can be important affair
AIR had suspended its earnings guidance on 26 August. The Group plans to hold its annual meeting on 28 October 2021.
AIR ended the day 0.31% in green to close at $1.63.
Tourism Holdings Limited (NZX:THL)
Premium tourism operator and holiday vehicles renter, Tourism Holdings, recently responded to a commentary regarding the Group considering a dual listing on the ASX.
THL clarified that it had been considering the dual listing in the past but no decision had been made on the same and it had no intention at the time to raise additional capital.
THL ended the day 4.02% in green to close at $2.59.
Serko Limited (NZX:SKO)
Travel and expense technology solutions provider, Serko, held its annual meeting in August.
Serko's overall revenue fell 37% to $16.9 million in the fiscal year that ended in 2021. The Zeno brand was validated in North America while Serko collaborated with Booking.com.
DO READ: Top things to watch out for in New Zealand market today
The Group has been creating new processes as well as carbon management options for all forms of business travel.
SKO ended the day 1.22% in green to close at $8.3.
(NOTE: Currency is reported in NZ Dollar unless stated otherwise)