Category Archives: New Zealand

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A seaweed trial could prove a game-changer in water restoration, says AgriSea managing director Tane Bradley, right. Hes pictured with, from left, University of Waikato scientists Chris Glasson, Marie Magnusson, and Clare Bradley.

Seaweed could be the key to cleaning up some of New Zealands dirtiest waterways.

Nearly $1m has been poured into a trial soon to start in the Waikatos Waihou River, testing how well the seaweed can filter its water.

This will be New Zealands first land-based seaweed trial, and three tanks of the plants will grow for 12 months, drawing water from the estuary, with data collation and analysis to follow.

If successful, AgriSea managing director Tane Bradley said it could become a game-changer in water restoration on top of growing seaweed that can be used for other products.

The Paeroa seaweed innovation company began experimenting with seaweed 26 years ago, manufacturing high-value macro-algal products to boost plant immunity, for animal and human health on farms.

READ MORE:* Kiwi company hopes to get locals hooked on seaweed drinks* The food future of New Zealand seaweed* Streams of dead birds and fish likely with potential 'triple threat' outbreak on the horizon

WAIKATO REGIONAL COUNCIL

Waikato Regional Council prosecuted a company responsible for an effluent discharge into a tributary of the Waikato River that turned a waterfall green.

Now, with the backing of Ministry for Primary Industries Sustainable Food and Fibre Futures fund, the company alongside University of Waikato scientists will expand into environmental restoration with trials to begin in June.

Theres so much you can do with seaweed, Bradley told Stuff.

We are really pushing the boundaries with this, bringing technology that is already existing and readapting it to New Zealand and seeing were it can benefit us.

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Seaweed will be used to clean excess nutrients from the Waihou Estuary in the project, a process known as bioremediation.

Seaweed, unlike many plants, doesnt have root systems and grows by pulling nutrients from the surrounding water.

The seaweed in tanks will act in the same way, filter feeding on excess minerals like nitrogen, phosphorous and other heavy metals currently unable to be soaked up by freshwater plants.

The water will then be returned to the sea, filtered and clean.

Similar models have been used in Australia alongside prawn farms to clean defecation, but this will be a first for New Zealand, Bradley said.

It is estimated that up to 50 tonnes of dry ulva seaweed per hectare could be produced from a scaled-up facility, providing the biomass for added value products.

I can see hectares of these machines being built all down the country.

The Government has invested more than $697,000 into the project through the Ministry for Primary Industries Sustainable Food and Fibre Futures fund.

AgriSea is contributing $108,000 and the Agricultural and Marketing Research and Development Trust (AGMARDT) is investing $150,000.

Thames-Coromandel District Council is gifting the land lease for the project term, worth $40,000, with support from Ngti Maru and Ngti Hako. Hauraki District Council and Te Waka are also assisting with the consent process.

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Similar models have been used in Australia alongside prawn farms to clean defecation, but this will be a first for New Zealand, AgriSea managing director Tane Bradley said.

Agriculture Minister Damien OConnor said this research supports many of the goals set out in Fit for a Better World, the Governments 10-year food and fibre sector roadmap aimed at lifting productivity, sustainability and creating jobs to drive New Zealands economic recovery from Covid-19.

If successful, this will be an environmentally-friendly way to improve water quality, create jobs in the science sector, revitalise our waterways and improve our on-land farming systems Damien said.

Bradley estimates the potential value of the project as up to $219,000 per hectare of production each year.

This is based on nitrogen credits coming into effect in New Zealand and the value of ulva-based products which are on AgriSeas Innovation pipeline," he said.

While New Zealand doesnt yet have a nitrogen trading scheme, if one was introduced the biomass produced in one year from one hectare of ponds would be worth $82,000 in nitrogen credits, based on international values for nitrogen trading.

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Three ponds totalling 60 square metres will grow the locally present green seaweed species ulva.

Original post:

Nutrient-sucking seaweed on clean-up duty in one of New Zealand's dirtiest waterways - Stuff

Torbjrn Pedersen agrees that his idea sounds crazy. Travel to every country in the world, live on just US$20 a day, and do it all without ever using a plane. Crazy, yes, but as Pedersen puts it, a good kind of crazy.

For the past nine years, Pedersen, who is also known as Thor, has been criss-crossing the globe, enduring hardships from pounding storms while on cargo vessels, wrangling visas from sometimes hostile border guards, all while juggling the logistics of how to navigate an airport-free adventure. Throw in a pandemic and the incredible feat that he has been achieved so far seems even more crazy.

But there is light at the end of the tunnel.

Pedersen has crossed off 195 countries from his list, with just eight left to go. Currently, he is on a cargo ship due to arrive any day now in Townsville, Australia. His next stop will be New Zealand, then stops in Samoa, Tonga, Vanuatu, Tuvalu, before travelling to Sri Lanka and then on to the final destination in his epic journey, the Maldives.

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Pedersen in Tarawa, Kiribati.

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And then he will finally return to his native Denmark, the first time home since the start of the adventure.

Pedersens upbringing and career have helped him navigate, quite literally, the tricky task of planning this journey.

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Pedersen, aka Thor, has been travelling since October 2013.

His family travelled extensively as his father worked in the textile industry, while his mother worked as travel guide and spoke many languages. A stint in the Danish Army was followed by a 12-year career in shipping and logistics, but Pedersen said the inspiration for the trip came from his father.

It began with an innocent email from my father. I opened it and clicked on the link which brought me to an article about world travel, said Pedersen.

It turned out that only about 200 people have achieved reaching every country and nobody had successfully managed it completely without flying.

So the seeds of an adventure were sown. While his friends were supportive, it took a while for his parents to get on board.

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He is a goodwill ambassador for the Danish Red Cross.

My father warned me against doing it, stating that it would be bad for my career. But I left home with his support, and he has since become one of my greatest supporters. When I visited my mother and told her about the project she simply stated that she also likes to travel, and then went on to talk about other things as if I had told her I was off to the dentist. Shes also a huge supporter today.

After several months of planning, he set off on October 13, 2013.

Documenting his travels on his blog, Once Upon a Saga, as well as on social media, Pedersen started with Europe, then made stops in North America, South America, the Caribbean, Africa, the Mediterranean, Middle East, Eastern Europe, and Asia. The Pacific Islands would be the final stops.

His logistics background, plus his connections as a goodwill ambassador for the Danish Red Cross, have helped his journey. Having a Danish passport has also been an advantage, especially when navigating the quagmire that are some visa processes.

There are countries which require no visa, some visas can be applied for easily online, some are easy to obtain at embassies and most visas are simply a standard process of filling out forms, bringing passport photos, and paying the amount.

Some visas have, however, been mind-boggling hard to obtain, and I have different stories for different visas. On one occasion I had to become a resident within one country to apply for a visa in another. Mad.

He is not the first to try this journey. A fellow adventurer, Graham Hughes, holds the world record of the fastest to visit all countries by public surface transport, according to Guinness World Records. However, he was allowed to fly back to Britain twice during his journey.

Pedersen said he will be the only person to visit every country in the world on a single journey without catching a flight.

Despite all the years of careful planning, he could never have predicted a pandemic. The original plan was to finish the adventure in 2020, but that was ruined by Covid-19. In fact, he has been stuck in Hong Kong for the past two years.

It started with four days of transit which turned into 11 days. Then countries started closing their borders to Greater China which includes Hong Kong. Then the virus outbreak went to become a global pandemic and most of us thought it would be over within a few months."

But despite the setback, he said he made the best of it.

I built a life for myself, made friends, improved on myself, collaborated left and right, developed contacts, etc. When I left I had a driving licence, a Hong Kong ID-card, an employment visa, a dentist card, and I had donated blood four times.

He also got visits from his wife. Yes, despite all the travelling, Pedersen is married. The original plan was to get hitched when he got to New Zealand, but the pandemic forced a rethink. Le Gjerum has joined the journey on many occasions, including a three-month stint in Hong Kong. Pedersen admits another ambition to finish soon is so the couple can start a family.

Another obvious question is how is he funding all of this?

I get financial support from Ross DK and GEOOP since I left home. They are Danish companies which focus on geothermal energy. Im also supported financially through donations from my followers. And on and off, I make some money from writing an article or from speaking engagements.

The project budget is US$20 a day which covers transportation, accommodation, visas, and meals.

He said some days prove more expensive than others when having to apply for things like visa extensions, but there are other days when he lives very frugally, so it balances out. Thankfully, he is rarely charged for the cargo ship journeys.

Another frequent question is whether he has ever thought about giving up and flying back home. He said that's a resounding yes!

I often wonder if its still worthwhile to continue. As time passes on, my wife and I see our chance of starting a family diminish. Also, my friends and family have children Ive never met.

But now is not the time to quit, especially with the finish line coming up. He hasnt got a set date of when he will reach New Zealand.

Im fortunately supported by several shipping companies. One of them is Swire Shipping which has a service from Australia to New Zealand, and also onward to Samoa and Tonga.

I might stay a little longer in New Zealand if I see my chance to join a ship to Antarctica and back. It would be a nice touch to include every continent as well.

Through all the hardships and delays, there is one thing which keeps the drive alive.

As a goodwill ambassador of the Danish Red Cross, Ive symbolically united the humanitarian movement across 190 countries by visiting and raising funds. My determination and endurance within this project is also inspiring and motivating people on a daily basis.

Personally I have received an education second to none. And many people have through my work changed their world view, learned about cultures, learned about people, and learned about countries, which they otherwise never would.

For more information go to Once Upon a Saga, or follow Thor on Instagram and YouTube.

Originally posted here:

I've visited nearly every country in the world without ever taking a plane, New Zealand is next - Stuff

A man who was proud to represent his country and play with a smile on his face.

Ross Taylors not yet willing to fully reflect on an international cricketing career which will end in his hometown on Monday night.

But the 38-year-old, when pushed and prodded in a manner antithetical to the way he has batted for New Zealand over the past 16 years, admitted hes pieced together a large body of work hugely worthy of being proud of.

Taylor will be celebrated over the next two one-day internationals between the Black Caps and the Netherlands in Hamilton on Saturday and Monday as a player who has made more appearances for his country over the three formats than other New Zealander.

But it could have been an awful lot fewer when Taylor lost his job as national team captain in 2012, in the process of making 142 and 74 while guiding his side to their first away test win over Sri Lanka in more than a decade.

Brendon McCullum was installed as the new leader under coach Mike Hesson and a hurt Taylor took some time away from the game to decide how best to react.

It doesnt feel like it was nine or 10 years ago, Taylor said this week.

It just goes to show what kind of career Ive had that it was that long ago.

STUFF

Since debuting as a fresh-faced 22-year-old in 2006, Luteru Ross Taylor has gone to become arguably the Black Caps' greatest ever batsman.

It could have affected people in different ways I was happy with the way I dealt with it at the time and continued to represent my country proudly and play with a smile on my face.

It could have been easy to have moved on and done something different, but theres only one New Zealand cricket team to play for. I was happy with the decisions I made.

That led to what will be 450 appearances for New Zealand, compiling 18,184 runs through a beguiling mixture of cuts, cover drives, leg glances and slog-sweeps among them.

Im proud of a lot of things, Taylor said.

A lot of the team successes over the years, winning the World Test Championship, playing in a couple of World Cup finals.

Obviously scoring a few hundreds.

The team had a transition phase Ive seen the downside of the team during its low periods, and Ive seen it during its high periods.

I think the teams evolved organically over the years for the better and its nice to have been part of that.

Alex Davidson/Getty Images

Ross Taylor and Kane Williamson celebrate NZs victory over India in the ICC World Test Championship Final in Southampton last June.

Taylor has taken a relaxed approach over his last three ODIs, after bowing out of the test arena in January in memorable fashion, taking a wicket to seal an innings win over Bangladesh in Christchurch.

The most pressure hes faced of late has been dealing with the demands for tickets from friends and family for the two games at Seddon Park after Covid-19 crowd restrictions were lifted.

However, Taylor said playing out the final years of his career amid the demands brought by a worldwide pandemic had taxed him mentally.

Its definitely been a tough couple of years.

I enjoy playing cricket and playing a lot of it whereas leading into the Indian series, I didnt have a hit. You go from playing 10 months of the year to the last couple of summers which have been affected quite considerably.

Living in bubbles overseas has certainly been something to get used to, but in saying that, Im probably fortunate to have the career Ive had.

It must be pretty tough on the guys that are just starting their careers in such a disjointed way thats just not the normal.

But you play cricket, youre representing your country and you know the sacrifices that are needed to do that. Thats one of them. It doesnt mean it becomes easier it probably becomes harder once the kids are older and understand that Dad is going away, said the father of three.

But Ive been very fortunate to have a supportive wife and family thats helped out along the way. And theyve been able to see parts of the world that they probably never would have at their age if it wasnt for cricket as well.

Taylor said hes still looking forward to playing in a few tournaments around the world and then playing for Central Districts in some capacity next summer.

Paul Kane/Getty Images

The scoreboard displays the first innings score for Ross Taylor when New Zealand met Australia in the second test in Perth in 2015.

Hell play his final game for the Black Caps in a format he rated as his best, while pondering what could have been in the shortest style.

Twenty 20 cricket, its great fun playing, definitely not a great game batting in the middle order if I had my time again, I would have opened the batting, thats definitely the easiest place to bat in that format.

In test cricket, I was proud of the way I turned myself into a test cricketer.

I had reservations whether I could do it.

I knew I could play to some extent, but its whether youre going to have a successful career and I was happy with the changes I made, and to have the longevity as well. Test cricket is about patience but then at the same time, youve got to try and be true to yourself, and I was always a strokemaker.

It was trying to find that balance between defence and attack and not being too defensive, because that can also stifle people.

Ive had a lot of help from a lot of people, and Martin Crowe was a big part of that.

Cricket is a very mental game, and the way you work on your mental side as a player, as a captain, as a batter, and continually trying to improve in all those facets.

Ever the batter, Taylor plumped for three of the same ilk when asked to nominate the best players hes faced, leaving the bowlers out in the cold.

All players go through different stages of where they are hot.

The two that weve caught at their best Ricky Ponting, there was a summer when he was at the top of his game and it was like he could do anything. [Virat] Kohli was at that stage too when weve played him just unreal really.

Chris Gayle, he used to score runs against us for fun.

Taylor may step away from cricket when he puts his bat into his kitbag for the final time, citing a few business interests hes developed over the years.

But nothing is set in concrete.

A lot of guys who are head coaches, I never thought after playing with them for so many years that they would get into head coaching, so you never say never.

Read more from the original source:

Ross Taylor prepares to take his final bow for New Zealand with a sense of pride - Stuff

Glenn Taylor/Stuff

Julien Debord, his wife Sophie and their children Lisa, 10, and Thibaut, 12, would like to stay in New Zealand. (File photo)

A French family is waiting to hear if they can remain in New Zealand after being told their business didnt perform as expected during the pandemic.

Last month Julien Debord, his wife Sophie and their two young children were told by Immigration New Zealand (INZ) that they wouldnt get visas because their business, Cafe Tennyson, hadnt met revenue and staff targets set before the pandemic.

In late 2020 Julien Debord applied for entrepreneur resident visas for the family.

Hes spent the past 16 months providing information, accounts and forms to satisfy numerous requests from Immigration. These included a supportive letter from Napier MP Stuart Nash, who proffered his strong support for the family and business.

READ MORE:* French family running popular Napier cafe told they won't get visa * Immigration medical certificate no longer required before submitting resident visa application* SailGP proposed saving NZ round with privately-run MIQ or self-isolation

INZ said it couldnt be satisfied the family met the requirements and told the Debords they had until March 21 to provide further comments or information.

Debord responded. On Friday INZ general manager border and visa operations Nicola Hogg said no decision had been made, but they were looking to make [one] as quickly as possible.

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Green MP Dr. Elizabeth Kerekere, Napier resident Kathryn McGarvey, and Napier Mayor Kirsten Wise with the petition started by McGarvey in support of the Debord family.

Following news of the familys plight in early March, local woman Kathryn McGarvey began a petition. It was signed by 7308 people by Saturday and was passed to Green MP Elizabeth Kerekere, who will present it to the House of Representatives next week.

Debord said the family had been surprised by the support they had received since their story became public.

We have been crazy busy in the past two weeks with people wanting to support us. When I heard of the petition I thought if we were lucky maybe 500 people would sign... 7300 was a surprise.

The petition calls on Immigration Minister Kris Faafoi and Associate Immigration Minister Phil Twyford to grant or extend the family's visa and to update the criteria for the granting of the entrepreneur resident visa, taking into account the unprecedented difficulties of operating a business under Covid conditions.

RICKY WILSON/STUFF

Associate Immigration Minister Phil Twyford, pictured, has been asked by Napier MP Stuart Nash to use his Special Ministerial Direction in the Debord case. (File photo)

Joining Nash in providing letters supporting the family are Napier mayor Kirsten Wise, National MP for Taup Louise Upston, and Napier City Business Incorporated general manager Pip Thompson.

Thompson said the Debords had made the caf an institution bustling daily with local business people, families, and visitors.

STUFF

Immigration Minister Kris Faafoi announces thousands of migrants on temporary work visas would be fast-tracked for residency after a major immigration policy shift. (First published on September 30.)

Once the rules relax and domestic travel becomes more comfortable, international borders open, and we welcome cruise ships passengers to our iconic Art Deco city, we absolutely need cafs like the Debords to be open and trading, Thompson said

McGarvey said Julien and Sophie are kind, friendly, and hard-working people, and we only ask that they are given a fair go.

Go here to read the rest:

Thousands throw support behind French family fighting to stay in the country - Stuff

Dame Therese Walsh - pictured just after getting the Air NZ role - achieved top positions in cricket and rugby administration. Photo / Dean Purcell

OPINION:

There's nothing in any governance handbook that could have prepared Dame Therese Walsh for the impact of the Covid pandemic on the national flag carrier.

This week, the Air New Zealand chair and her CEO Greg Foran announced a recapitalisation plan to raise $2.2 billion in equity and debt to restore the airline's financial health so it can take advantage of the border reopening and rebuild its international passenger networks.

Coming just a week after the pair announced that the airline would fly direct to New York City from September 17 and just sneaking in by one day ahead of Walsh's earlier "promise" that the recapitalisation would be unveiled within the first quarter of 2022 it was an auspicious moment.

Finally, Air New Zealand could get on with rebuilding its future.

Walsh says there had been earlier speculation that the Crown might seek to extend its 51 per cent holding in Air New Zealand or "nationalise" it by going to 100 per cent. But the airline board believed the company needed to be a commercially balanced organisation going forward.

She had early on asked the question on the Crown's intentions. But she says Finance Minister Grant Robertson has been resolute that the Crown would support the airline by maintaining its 51 per cent stake through the rights issue.

"They haven't deviated. They have been robust on that," she says.

Walsh is grateful for the Crown's continued debt support which critics (including this columnist) earlier described as being at a usurious rate.

She says the truth is that the airline could not get sufficient commercial debt in place early on to sustain its operations.

1 Apr, 2022 07:58 PMQuick Read

The government-supported cargo scheme has also been an absolute lifeline, she says, providing financial support to the airline to take New Zealand exports to offshore markets.

But it has been a marathon.

In February 2020, Walsh had spoken to the Institute of Directors on how governance was undergoing a transformation: "Whatever the ownership structure of organisations, accountability was on the rise" was how her speech was promoted.

A straight arrow, Dame Therese's career had seen her reach top levels in sports administration as head of New Zealand for the ICC Cricket World Cup 2015, and previously as chief operating officer for the 2011 Rugby World Cup before making the switch to more traditional governance roles as chair of TVNZ and a director of the NZX.

Two years on, she is more likely to describe the governance challenges her airline boardroom has faced in quite different terms. Accountability is a given. But there have been "black swan events". "Swiss cheese risk models". These also became part of the boardroom lexicon.

Walsh has spoken before of how Air New Zealanders developed a new philosophy during the tough months when Covid was raging. "Smile with your eyes above the facemask" was how she termed it.

She was barely "five minutes" into the chair's role herself when New Zealand went into the first level 4 lockdown. Foran was also just newly in his role.

Walsh doesn't dwell overly on the past.

But it's worth recalling that when Covid struck in March 2020 and New Zealand borders shut hard, the airline had to pivot very substantially and fast.

Routes were closed. Planes parked up. Staff massively downsized and customers felt disenfranchised. Flight demand was down 95 per cent almost overnight.

But with government funding support, Air New Zealand a critical element of the country's logistics kept servicing exporters by taking their products to the world.

She acknowledges it was tough for everyone involved. Especially those who lost their jobs.

Like Foran, who makes a point of getting out in the business and working occasional shifts with staffers, Walsh also checks in with the pilots every time she flies between her home in Wellington and Auckland (where she also chairs ASB) to catch the mood.

Showing visible leadership is important to her.

The workload at director level went through the roof as the board had to schedule many more meetings.

The retail offer to shareholders has not opened yet. But early signs from the round of institutional investor meetings held by Foran and his chief financial officer Richard Thomson are promising.

There were multiple negotiations with the Crown on various recapitalisation plans. There was disappointment that the airline could not fill its boots with new capital in the early stages of the pandemic as some competitors did. But also a recognition "in hindsight" that the frustrating delays may have been to the airline's advantage.

Air New Zealand had wanted to go last August. But the Crown said it was not ready. It was a timing thing.

Robertson wrote Walsh a "letter of comfort" that pledged the Crown's continued support. Then the Delta outbreak happened and transtasman flights shut down again. Then Omicron.

The difference between then and now is that borders are opening and Covid restrictions are easing.

There are other issues which the board would obviously have been watching. Ukraine. The geopolitical stresses caused by the Russian invasion. Complexities around the US and China. Rising fuel prices and inflation which are all part of the full range of risk factors the airline and its advisers have had to balance, and are outlined in the offer documents.

Against this the airline's board has made a safe strategic bet that internationally demand is going to build up.

Walsh wonders: Will this pent-up demand result in aviation going gangbusters? Or will passengers take a more measured approach as they return to the skies?

The airline clearly hopes that this substantial recapitalisation will set it up for its future and that it does not have to return to the capital markets again, as have some other airlines that recapitalised much earlier in the Covid pandemic.

Reflecting on the past two years, Walsh says "crisis brings out the best in people".

"It's all landed in a balanced and pragmatic way.

"We have righted the ship. Let's go sailing."

Continue reading here:

Fran O'Sullivan: Air NZ chair - 'We have righted the ship' - New Zealand Herald

Air New Zealand in a trading halt, Transmission Gully finally opens and a melanoma study reveals a grim reality in the latest New Zealand Herald headlines. Video / NZ Herald

Analysts at Jarden say that in spite of the Air New Zealand's recapitalisation being an important step in improving the investment appeal of the company, they still retain their sell rating.

Air New Zealand last night announced a $2.2bn recapitalisation, comprising $1.2bn of new equity, $600m of redeemable shares and a new NZ$400m four year Crown loan facility.

The funds will be used to pay back $850m of an existing Crown loan and provide $950m for the airline to rebuild its pandemic-ravaged international network and for continued growth of its domestic operations and other parts of its business, including its loyalty scheme.

The airline has to invest in new aircraft and remodel new and existing business class cabins with seats now undergoing regulatory checks in the US and according to reportss today look more like its competitors.

The undrawn $400m new Crown loan will be used as backup should it be needed before 2026.

The analysts Andrew Steele and Nick Yeo have reduced their 12-month target share price for the company from 80c to 65c, reflecting the greater level of dilution for existing shareholders from a heavily discounted rights offer.

A two-for-one rights offer at a price of 53c per share represents a 61 per cent discount on the share price yesterday when trading was halted, ahead of the announcement that just made the deadline of being in the first quarter of the year. Airline chair Dame Therese Walsh said the price was set to be as appealing to as many shareholders as possible and had taken into account other discount offers in the market.

Those shareholders who don't take up the rights offer face dilution to their stake of more than 60 per cent.

The recapitalisation was pitched largely in line with expectations but the market may struggle with its sheer size, Salt Funds managing director Matt Goodson said.

The rights offer gives Air NZ a theoretical ex-rights price of 81c.

30 Mar, 2022 06:58 PMQuick Read

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27 Mar, 2022 08:25 PMQuick Read

"It will be interesting to see how the share price does trade," Goodson said.

The 53c offer price was a touch below expectations of one or two people "but we thought it was pitched about right".

"In terms of the forecasts, they line up with what we were thinking but, as always, airlines have massive operational and financial leverage, so very small changes can make a big difference to the bottom line," he said.

Jarden says there were still significant risks for the airline, with the sharespresenting a negatively skewed risk/reward profile.

''Risks include changes to the timing of border reopening, changes to competition, fuel costs, FX (foreign exchange) and underlying consumer demand.

They say the size of the re-capitalisation allows the airline to retain its investment grade credit rating -currently Moody's Baa2 stable outlook - by increasing available liquidity from $1.4b to around $1.8b.

The airline said last night its pre-tax loss for the full financial year would be less than $800m, not in excess of it.

The Jarden analysts forecast losses to fall to $791m from $809m. Forecasts for the 2023 and 2024 financial years are a loss of $54m and$171m.

They airline says did not expect to pay a dividend before 2026.

The airline's rebuild

In an investor presentation, the airline said while the operating environment will remain uncertain, by controlling what it can, its capacity based on available seat kilometres (ASKs) will reach 90 per cent of pre-Covid levels in the 2025 financial year.

Key assumptions for this are:

Domestic flying continues uninterrupted and without restriction

From the middle of 2022, international travel (excluding China andHong Kong where international borders are expected to remain closed) is uninterrupted,with no self-isolation restrictions and testing requirements easing for inbound andoutbound customers on Air New Zealand's key routes.

By 2025 aggregate passenger demand for domestic, Tasman and Pacific Islands travel will marginally exceed FY19 (financial year) levels, supported by network growth into those markets; and aggregate passenger demand for long haul will be slightly lower than FY19 levels (due to fewer ASKs flown overall), and have a more gradual pace of recovery relative to short-haul markets.

No long-term structural changes in travel behaviour or trends post-pandemic, including resulting from environmental sustainability concerns, health concerns related to Covid19, technological changes, or changes in customer preference.

Until March 2023, the Government freight scheme will support cargo flight revenue to assist targeted revenue recovery (noting the level of support will reduce as passenger demand returns).

The competitors that were present in FY19 will progressively re-enter the marketthrough to FY25, with capacity at levels broadly similar to FY19 at that point .

Otherwise, no major changes in the competitive environment or airfare pricingon Air New Zealand's key domestic and international routes compared to FY19.

The presentation says the pandemic and conflict in the Ukraine have caused volatility in financial markets and added uncertainty to the outlook for the New Zealand and global economies.

Jet fuel prices are currently elevated due to the conflict in Ukraine and the airline says this is partially offset by the benefit of the hedging Air New Zealand has in place.

Fuel prices are assumed to progressively reduce to S$75 per barrel for the 2024 financial year.

Greg Smith, head of retail at Devon Funds said the oil prices had moderated form recent highs but had risen overnight and was a substantial cost to the airline.

He told RNZ that hedges would run out.

The border reopening was positive but it was uncertain how quickly old flying habits would return, how well off consumers were feeling and how intense competition would be as travel recovers.

The uncertainty accounted for the heavy rights offer discount on offer, Smith said.

Originally posted here:

Air New Zealand's $2.2 billion recapitalisation: Verdict from Jarden analysts - New Zealand Herald

PM Jacinda Ardern was 'disappointed' with the move of the America's Cup offshore while Auckland Mayor Phil Goff revealed more details about what will happen to the former team base locations. Video / NZ Herald / Getty Images

OPINION:

The America's Cup, which became New Zealand's Cup, is now Catalonia's Cup.

The love affair is over. We knew the passion had cooled, we were aware that one foot was already out the door, it was always coming to an end, but it doesn't make it any less painful.

Hubris, greed or the cold hard light of day - it matters not how or why this long-standing, all-consuming and tempestuous affair has taken its last breath, we just know it has.

Like all jilted lovers, Kiwi sports fans are left grasping for reason, desperate to understand how such a beautiful relationship could end like this. There is no doubt that during those halcyon days, overpowering heights were reached. Such heights could not possibly be achieved again, but that never stopped the desire to do so.

The lure of the green grass in the end was too much to overlook, the team could no longer justify staying and had to pursue the money. A long-distance relationship would be untenable.

New Zealand won't take this well, nor should we. The nationalism the team fed off for so many years is no longer relevant. The connection that encouraged government after government to bankroll the exercise in 'mouse versus lion' is no longer apparent.

The America's Cup has now reached such financially bloated and obscene proportions, there is no place for a plucky and underfunded group. Billionaires and Formula 1 collaborations all now with a timezone friendly platform in a European glamour region, give New Zealand little or no chance of retaining the Cup.

In the unlikely event they do so, what chance of it returning to our shores for a defence? Based on the accelerating cost, short of the largesse of a multi-billionaire local (looking at you Graham Hart), the only way of securing the required finance will be to auction the event off again to the highest northern-hemisphere bidder.

After Team New Zealand's Will Smithing of the government's Chris Rock, it'll be a cold day in hell if the public cheque book is opened again.

29 Mar, 2022 09:20 PMQuick Read

29 Mar, 2022 04:20 PMQuick Read

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I don't wish ill on the team. The sailors themselves will always elicit a warm glow as they strive to board and scuttle their rivals. I expect, as is the norm, when the hostilities commence in Catalonia, there will some swelling of national pride and the media will dutifully report the massacre.

This event is never coming 'home'.

I would rather have borne witness as New Zealand fought and died on its feet in front of its loyal fans, as opposed to being beheaded on its knees in a foreign clime.

The relationship is over.

See original here:

D'Arcy Waldegrave: Team NZ's Am Cup decision a slap in the face to Kiwis - New Zealand Herald

WELLINGTON, New Zealand (AP) New Zealands government on Thursday said it will end its quarantine requirements for incoming travelers and reopen its borders, a change welcomed by thousands of citizens abroad who have endured long waits to return home.

Since the start of the pandemic, New Zealand has enacted some of the worlds strictest border controls. Most incoming travelers need to spend 10 days in a quarantine hotel room run by the military, a requirement that has created a bottleneck at the border.

The measures were initially credited with saving thousands of lives and allowed New Zealand to eliminate or control several outbreaks of the coronavirus.

But, increasingly, the border controls have been viewed as out-of-step in a world where the virus is becoming endemic, and in a country where the omicron variant is already spreading. The bottleneck forced many New Zealanders abroad to enter a lottery-style system to try and secure a spot in quarantine and passage home.

The shortcomings of the system were highlighted over the past week by pregnant New Zealand journalist Charlotte Bellis, who was stranded in Afghanistan after New Zealand officials initially rejected her application to return home to give birth. After international publicity, officials backed down and offered her a spot in quarantine, which she has accepted.

The border changes mean that vaccinated New Zealanders returning from Australia will no longer need to go into quarantine from the end of this month, and vaccinated New Zealanders returning from the rest of the world can skip quarantine by mid-March. They will still be required to isolate at home.

However, most tourists will need to wait until October before they can enter the country without a quarantine stay. And anybody who isnt vaccinated will still be required to go through quarantine.

Prime Minister Jacinda Ardern said she knows many people associate the border controls with heartache but they have undeniably saved lives.

There is no question that for New Zealand, it has been one of the hardest parts of the pandemic, she said. But the reason that it is right up there as one of the toughest things we have experienced is, in part, because large-scale loss of life is not.

She said the controls meant not everyone could come home when they wanted to. But it also meant that COVID could not come in when it wanted to, either.

Ardern said the restrictions had allowed New Zealand to build its defenses against the virus by achieving high levels of vaccination while also keeping the economy running strongly.

About 77% of New Zealanders are fully vaccinated, according to Our World in Data. That rises to 93% among those aged 12 and over, according to health officials.

New Zealand has reported just 53 virus deaths among its population of 5 million.

New Zealands economy did return to growth quickly after a pandemic dip, and unemployment decreased to 3.2% in the latest quarter, the lowest level since record-keeping began in 1986. But the government has also increased borrowing sharply and home prices have skyrocketed.

Opposition leader Christopher Luxon said the reopening of the border was welcome news, and his National Party had long called for the government to end the lottery of human misery.

Ardern said it was a first step toward normality.

There was life before, and now life with COVID, but that also means there will be life after COVID too, a life where we have adapted, where we have some normality back, and where the weather can once again take its rightful place as our primary topic of conversation, Ardern said. We are well on our way to reaching that destination. Were just not quite there yet.

Excerpt from:

New Zealand to end quarantine stays and reopen its borders ...

International pre-departure checks

International flying checklist for customers entering New Zealand:

International flying checklist for customers departing New Zealand:

Pre-departure testing requirements are set by the destination country or territories and Air New Zealand is unable to board customers who do not have the required test results.

With the latest New Zealand Government announcement, we're excited to soon be welcoming visitors back to Aotearoa, New Zealand.

From 11:59pm, Tuesday, 12 April- fully vaccinated Australian citizens and permanent residents, as well as current temporary work and student visa holders, will be eligible to enter New Zealand without the need to enter managed quarantine or self-isolate.

From 11:59pm, Sunday, 1 May- fully vaccinated travellers from eligible visa waiver countries and territories or those who hold a valid visa will be able to travel to New Zealand without the need to enter managed quarantine or self-isolate.

To check if you are eligible to enter New Zealand and what the new changes may mean for you if you have recently arrived and are currently in MIQ or self-isolating, please check the Unite Against COVID-19 website.

Changes have already been implemented by the New Zealand Government that from Wednesday, 2 March and Friday, 4 March, fully vaccinated New Zealand citizens, and other eligible travellers from Australia and around the world can travel to New Zealand without the need to enter managed quarantine or self-isolate.

We understand these changes to the New Zealand border means that we can welcome more visitors to New Zealand, and you may want to amend some of your travel plans. The good news is, you may be able to find your answer online:

Thank you for your patience while you wait to connect with us.

Due to the impact of Omicron and the latest announcement from the New Zealand Government about the border re-opening, we are experiencing higher than normal volumes of calls and messages across our customer channels.

Our team is working hard to ensure we can reach your call, message, or email as soon as possible.

Continued here:

Travel alerts - Flight information - Plan | Air New Zealand

Anne Rothschild suggests that restricting foreign ownership is a panacea for rocketing house prices, and cites New Zealand as an example of a country thats implemented such a policy (Letters, 23 March).

What she omits to say is that in New Zealand it seems to have failed, pretty spectacularly. In the past two years, property prices in New Zealand have gone absolutely bananas, even though non-resident foreigners are now mostly locked out of the market. Housing in Auckland is now less affordable than in New York and London, according to this years Demographia report.

Restricting foreign ownership hasnt stopped house prices in New Zealand going nuts, but it has fed xenophobic narratives about foreigners being the cause of societal ills. Having said that, checks and balances must be in place to prevent dirty money being laundered via the housing market and thats where the UK (and London in particular) needs to get its house in order. Richard CramptonAuckland, New Zealand

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Home truths about New Zealand house prices - The Guardian