$1 billion stuck on the ground: Air NZ rues Rolls-Royce and Pratt & Whitney maintenance issues

Air NZ says it can have up to three Dreamliners grounded at times due to engine maintenance requirements. (Image: Air NZ)

Rebecca Stevenson

Thu, 29 Aug 2024

Air NZ says inflation caused a more than $225 million headwind as its profit fell more than 60%.The airline reported its full-year result for the 12 months to June 30 on Thursday morning.The national carrier said it had broad-based inflation of 6% across its cost base, excluding fuel. Labour costs rose 13% to $1.6 billion with 5% wage inflation for the year. Maintenance, aircraft operations and passenger services costs increased by $265m or 19%, with 8% annual price inflation. Both increases were driven by a rise in long-haul fly...

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