Air NZ expects $40-$50m annual profitability drop due to headwind
Airline says strong North American competition, weak domestic demand and high costs are cutting into its bottom line.
Air New Zealand CEO Greg Foran.
Air New Zealand expects underlying profit for this financial year to be significantly down on last year, with a profitability drop of between $40 million to $50m due to "deteriorating market conditions".
The NZX-listed airline has also downgraded its earnings before taxation guidance, to be in the
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