Air NZ cuts outlook; virus saps demand

Mon, 24 Feb 2020

Air New Zealand lowered its annual earnings guidance by as much as $75 million as the global outbreak of the covid-19 virus saps travel demand.The airline said it expected the outbreak to hit earnings by between $35 million and $75 million, with total Asia capacity down 17 percent between February and June, trans-Tasman capacity down 3 percent between March and May, and domestic capacity down 2 percent across March and April.The national carrier had already pared Shanghai and Hong Kong services in response to the outbreak after the government b...

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