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Air New Zealand forecasts narrowed losses of US$477.8 million for full fiscal year
June 13th 2022
Air New Zealand (AirNZ) has announced its latest predicted loss of NZ$750 million (US$477.8 million) for the 12 months to June 30 will be less than forecast in recent months. Read More » “The airline continues to see strong passenger booking activity on short-haul and international services following the opening of the New Zealand border,” dual-listed Air NZ said in regulatory filings to the Australian Securities Exchange and New Zealand's NZX stock exchange. “Domestic traffic also has improved in recent weeks with business related demand returning to approximately 90% of pre-COVID-19 levels.” On March 30, the Star Alliance member said it expected to post losses, before tax and significant items, of less than NZ$800 million and then on May 4 announced its full-year result could be better than the March 30 outlook. “The airline remains mindful that the macroeconomic environment continues to be uncertain with disruptions from the impact of COVID variants, continued travel restrictions in some markets and the ongoing conflict in Ukraine contributing to high jet fuel prices.” Air NZ reported a pre-tax loss of NZ$440 million for the 2020-2021 fiscal year.
