- Air New Zealand (AIZ) improves its forecast for FY22 following a pick-up in travellers flying domestically and internationally
- The company is now expecting an annual loss before tax and significant items to be less than NZ$750 million (A$675 million)
- This is down from the previous forecast loss of less than NZ$800 million (A$721 million)
- Air New Zealand said it has seen domestic demand improve in recent weeks with business-related travel returning to about 90 per cent of pre-COVID levels
- AIZ shares are down 2.68 per cent and trading at 54.5 cents per share at 11:18 am AEST
Air New Zealand (AIZ) has improved its forecast for the 2022 financial year following a pick-up in travellers flying domestically and internationally.
New Zealand is expected to fully open its international borders from the end of July and recently welcomed its neighbours from Australia for the first time since mid-2021.
The airline is now expecting an annual loss before tax and significant items to be less than NZ$750 million (A$675 million), compared to a prior forecast of less than NZ$800 million (A$721 million).
Air New Zealand said it has seen domestic demand improve in recent weeks with business-related travel returning to about 90 per cent of pre-COVID levels.
However, the company said it is mindful of uncertain macroeconomic conditions such as COVID-19-led travel restrictions and high jet fuel prices.
On the market, AIZ shares were down 2.68 per cent and trading at 54.5 cents per share at 11:18 am AEST.