Air NZ preps for more capital returns

Air New Zealand is setting the stage for more capital returns to shareholders over the next two years as it targets a new range of capital management metrics.The national carrier made a down payment today with a special dividend of six cents per share, fully imputed, at the same time as it announced a $1.3 billion earnings turnaround.The rebound from a covid-induced pre-tax loss of $810 million in the 2022 financial year produced a $574m pre-tax profit in the year to June 30, the airline’s second-best-ever earnings performance as it...