Air New Zealand slashes earnings guidance on engine issue, slowing travel growth

Tue, 29 Jan 2019

By Paul McBeth Jan. 30 (BusinessDesk) - Air New Zealand has warned annual earnings may fall by as much as 37 percent as it deals with disruptions caused by the global Rolls Royce engine issues and slowing travel growth. The national carrier expects pre-tax earnings of $340-400 million in the year ending June 30, including the impact of the engine problems that reduced the frequency of flights on some routes. Earlier guidance for earnings of $425-525 million excluded the estimated $30-40 million hit from that disruption. Air New Zealand r...

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