Global Opportunities Beyond the Radar

Why Has Air New Zealand Stock Lost 3.64% Today?

Air New Zealand Limited [NZX:AIR] has seen its share value slide by 3.64%. This happened when markets opened to a sour mood.

Air New Zealand — established in 1940 — is the country’s beloved national airline, operating flights to domestic and global destinations. It has a strong presence on the New Zealand Stock Exchange, as well as the Australian Securities Exchange.

The company’s share price is currently $1.985, and it has a market capitalisation of $2.228 billion.

Why has the [NZX:AIR] share price plunged today?

The economic impact of the coronavirus continues to bite.

Today, Air New Zealand announced that it expects continued disruption in the tourism and travel industries.

Here are the key highlights:

Falling passenger numbers, cancelled flight routes, and a prolonged climate of fear have reinforced a negative sentiment. A bearish mood prevails among investors.

Where could [NZX:AIR] go from here?

It was originally predicted that Air New Zealand would suffer financial losses of $35 million to $75 million. But the damage could well be greater.

For the short- to medium-term, the outlook is negative.



John Ling,



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