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Air New Zealand withdraws earnings guidance due to Gulf conflict
March 11th 2026
Air New Zealand (Air NZ) yesterday (March 10) suspended its earnings guidance for the rest of the 2025/26 financial year amid unprecedented volatility in global jet fuel markets due to the US- and Israel-led attack on Iran and escalating conflict in the Gulf region. Read More » The airline had guided the market to expect second half earnings to be broadly in line with, or modestly below, the NZ$59 million (US$35 million) loss before taxation in the first half, assuming an average jet fuel price of US$85 per barrel. The company noted jet fuel prices had increased sharply to between US$150 to US$200 per barrel in recent days. "Due to this unprecedented volatility, the jet fuel price assumption underlying Air New Zealand’s 26 February 2026 guidance is no longer appropriate," Air NZ said in a regulatory filing. "The crisis is expected to meaningfully affect second-half earnings and accordingly, the airline has suspended FY2026 guidance until fuel markets and operating conditions stabilise." The Star Alliance member said it had made some initial fare adjustments in response to the unfolding situation and there was potential for further pricing action - as well as network and schedule changes - should the conflict lead to continued elevated jet fuel costs. Air NZ shares closed down 1.1% in N.Z. trade yesterday.
