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Continuous Disclosure: Transtasman bubble won t be enough to pull Air New Zealand out of the red
8 Apr, 2021 05:00 PM
8 minutes to read
Air New Zealand won t be profitable again until long-haul travellers can return, analysts predict. Photo / File
Air New Zealand won t be profitable again until long-haul travellers can return, analysts predict. Photo / File
The announcement of the opening of the transtasman bubble on April 19 has been followed by positive stories of Kiwis rushing to book flights with Air New Zealand. But one investment firm remains convinced that it will take the return of long-haul travellers to bring the national carrier back to profitability again.
I certainly think on some of these hugely influential technology companies, platforms, energy companies, people do want a say. In New Zealand user-friendly investing platforms like Sharesies and Hatch have brought a huge number of new members into the market. However, for many small shareholders intent on activism, there s a catch. In mutual funds – including Kiwisaver funds – shareholders do not hold voting rights because they do not own the shares.
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Sharesies’ Leighton Roberts (middle), seen with co-founders Brooke Roberts and Sonya Williams, says the burgeoning platform is working on its ability to give shareholder activists more input. ’The fund does the investing and provides some kind of financial return on investment to the client,’’ Dr Anindya Sen, of Otago University’s accounting and finance department, said.
OPINION: It may take a different form to the publicity stunts of the early 2000s, but that is a mere reflection of the comparative maturity of the New Zealand financial ecosystem.