Air New Zealand forecasts return to positive earnings in interim 2022-2023
Air New Zealand (Air NZ) expects to report earnings before taxation and other significant items in the range of NZ$200 million (US$117 million) to NZ$275 million for the six months to December 31. Read More » The forecast, if realised, will be a return to positive earnings for the airline against a reported loss before taxation and other significant items of NZ$367 million in the same months in 2021. “Air New Zealand has been seeing strong forward sales in the first three months of the financial year, particularly for travel to January 2023 and it continues to operate approximately 70% of its fiscal year 2019 capacity,” the airline has reported to the stock exchanges of Australia and New Zealand. The company cautioned fuel prices remained highly volatile and added this unknown was one of several factors with the potential to slow its recovery and significantly impact earnings. “Demand in the second half of the financial year remains highly uncertain,” Air NZ said. The company did not provide earnings guidance for the full 2022-2023 year.