Ann: Air NZ provides half year earnings guidance for FY23, page-3

So if I extrapolate - exactly as they told us not to do, the bottom end we get an underlying 12 eps pre tax, or notional after 28% tax of 8.6 in cNZ.

You probably wouldn't extrapolate the top end as usually the DEC half is stronger with about 58.4% of FY PBT in FY 18 and 19 before you know what.

If you take the midpoint of 237.5 and the skew I mentioned at 58.4%, you get 406m. In AUD about 7.6 cps after deducting 28% tax (that I doubt they will pay after recently accumulated losses).

Consensus on marketscreener is for FY23 PBT of 82.4m - not sure how out of date some of that is.
FNarena with only Macquarie providing numbers from 26/8/22, forecast 1.9c nz for FY23, and 9.3c NZ for FY 24.

So seems well priced, and to be turning around faster than expected if there is nothing I don't know about.