Air NZ warns 2025 looks bumpy after profit and earnings fall more than 60%

Air NZ has faced increased competition from US carriers. (Image: NZME)

Thu, 29 Aug 2024

Air New Zealand says it has taken a $100 million hit to earnings due to ongoing engine issues. The airline reported its full-year result for the 12 months to June 30 on Thursday morning. Earnings before tax came in at $222m, more than halved from the prior financial year when it recorded one of its highest-ever results following the reopening of New Zealand’s borders. Net profit after tax was $146m, a fall of 65% on the previous year. Air NZ said the second half of the financial year was increasingly challenging, with...

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