News
Air New Zealand reports 4.9% passenger growth, warns of softer second half
February 20th 2024
Air New Zealand (Air NZ) predicts its financial performance for second half 2023-2024 to be “markedly lower than the first half”. Read More » The impact of unplanned Pratt & Whitney global engine maintenance requirements, the hit to costs from significant inflation and weakness in domestic corporate and government demand are forecast to put downward pressure on earnings, the airline said. In a trading update, the flag carrier said forward bookings suggested increased capacity and continued pricing pressure from U.S. carriers will adversely impact its forward revenue performance to June 30. The airline flew 1.3 million passengers on its domestic and international networks in January, up 4.9% from the 1.2 million air travellers it carried in the same month in 2023. Capacity increased 15.1%, but passenger load factor dipped 4 percentage points to 83.9%. Domestic passenger numbers were relatively flat for the month, at 771,000, Air NZ said.
