Air NZ reviews Japan flights as weaker yen crimps profits

Tue, 14 May 2013

By Tina Morrison May 14 (BusinessDesk) – Air New Zealand, the national carrier, is reviewing its flights from Japan as a decline in the yen crimps the value of Japanese sales when it brings the money home. The New Zealand dollar has surged 17 percent against the Japanese yen so far this year as aggressive monetary easing in Japan contrasts with expectations the next move in New Zealand interest rates will be up. "The Bank of Japan's change in monetary policy which emerged earlier this year resulting in a structurally weaker yen has significa...

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