Airways NZ posts $31.3m loss

Staff reporters
Wed, 30 Sep 2020

Airways New Zealand said it made a $31.3 million net loss for the year ended June because of the dramatic impact of the coronavirus on air traffic, the company's core source of revenue.Revenue fell 8.7 percent to $209.4 million with $178.5 million of that coming from air traffic management, Airways' accounts show.The result, which compares with the previous year's $23.6 million net profit, included a $48.7 million write-down of its cash-generating units, based on how long the air navigation service provider expects it to take for ai...

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