Air New Zealand Posts Second Annual Loss, Suspends Guidance
This article is for subscribers only.
Air New Zealand posted its second straight annual loss and suspended earnings guidance as the South Pacific nation grapples with a coronavirus outbreak that’s prompted a strict lockdown.
The airline announced a loss before significant items and tax of NZ$440 million ($307 million) for the year ended June 30, its first full 12-month period of operation with Covid-19 related international travel restrictions. Operating revenue of NZ$2.5 billion was down 48% on the prior year, the Auckland-based carrier said Thursday.