Air NZ downgrades guidance for a third time.
Air New Zealand expects the second half of the financial year to be “increasingly challenging” in the face of headwinds such as engine maintenance needs, inflation, and softness in domestic demand.
Earnings before tax for the 2024 financial year is now expected to fall in the range of NZ$200 million and NZ$240 million.
While the carrier has previously downgraded its guidance because of market softness and similar factors, Air New Zealand anticipates “deteriorating conditions” will have an even bigger impact on operations this year.
Increased competition from American carriers was also listed as an added pressure on revenue.
More details in today’s issue of Travel Daily.