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Tuesday, February 7, 2023

Strong reservations should boost Air New Zealand’s six-month profit

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According to an update from the national airline, Air New Zealand, reservations for travel within New Zealand is performing well.

“Air New Zealand has continued to see strong forward sales over the first three months of the financial year, particularly for travel through to January 2023 and continues to operate approximately 70 percent of FY19 capacity,” the airline explained in a stock exchange statement on September 21, 2022.

The airline stated that it anticipates reporting a profit before tax and other important items for the first half of its fiscal year of between NZD200 million and NZD275 million ($118-162 million), should the high sales continue and capacity maintain at those levels.

In contrast, following New Zealand’s border closures to stop the spread of COVID-19, the airline reported losses of NZD725 million ($427 million) and NZD444 million ($262 million) in its most recent two fiscal years.

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