Air NZ to defer $750 mln of capex to help weather slowing demand

Wed, 27 Mar 2019

By Rebecca Howard March 28 (BusinessDesk) - Air New Zealand plans a series of cost-cutting measures to weather slowing demand including deferring $750 million of capital spending on fleet upgrades. The airline carried out the review after it lowered profit guidance for the 2019 financial year at the end of January in order to "ensure a return to earnings growth in the lower growth environment," said chief executive Christopher Luxon. Air New Zealand has been impacted by a slower pace of growth in domestic travel and inbound tourism af...

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