Air NZ loss doubles as it begins to revive

The airline told investors to expect an underlying loss of “less than $750m”. (Photo: Air NZ)

Thu, 25 Aug 2022

National carrier Air New Zealand more than doubled its full-year net loss as it begins to rebuild its business after the pandemic and travel restrictions throttled it. The statutory net loss widened by 102% to $591 million in the 12 months ended June from $292m a year earlier, the Auckland-based company said in a statement. The loss was eased by $219m in tax credits and the airline reported a loss before tax and other significant items of $725m, up from $444m in the prior year.Operating earnings, which exclude depreciation and amortis...

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