Infrastructure

Air NZ sees underlying loss of up to $120m

Paul McBeth
Thu, 18 Jun 2020

Air New Zealand expects to report an underlying loss of up to $120 million in the June year due to the covid-19 pandemic, and that’s before one-off hits of up to $624 million. The national carrier said it expects to report a pre-tax loss before significant items of up to $120 million in the year ending June 30, compared to a pre-tax profit of $374 million in the June 2019 year. The forecast includes fluctuations in currency values and fuel prices. “The New Zealand government’s recent move to alert level 1 has enabled the airline to slowl...

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Markets

MARKET OPEN: Kiwi slumps as traders lose their nerve

Paul McBeth | Tue, 22 Sep 2020

The New Zealand dollar dropped more than 1 US cent as traders dumped risk-sensitive assets amid renewed fears about the economic impact of the covid-19 pandemic.The kiwi dropped to 66.66 US cents at 8am in Wellington from 67.71 cents at 5pm yesterday, joining an extended selloff...

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