Air NZ flies into surging demand and serious economic headwinds

Air NZ flies into surging demand and serious economic headwinds
Air NZ said it was "firmly" in the revival phase of its 'survive, revive, and thrive' pandemic plan. (Photo: Air NZ)
Dan Brunskill
Air New Zealand spent most of the previous financial year operating at a fraction of its capacity as it struggled against ongoing covid outbreaks and restrictions.The end result was a huge underlying loss – before tax and other significant items – of $725 million, widening from $444m in the prior year. While revenue lifted 8% to $2.7 billion, operating earnings fell from a $334m surplus last year to a $4m loss. Chief executive Greg Foran said international passenger flying was “virtually non-existent” while dom...

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