Air New Zealand: Successful Turnaround Resulting In Stable Performance
- After an expansion that went wrong Air New Zealand was near bankruptcy in 2001. The company was saved by the government that acquired an 75% stake.
- In the following years Air New Zealand succeeded in achieving the turnaround. The government is reducing its share now stepwise.
- Air New Zealand is highly profitable with an expected P/E of 10. The stock pays a dividend yield of 5%.