Engine repairs drag on for Air NZ

Engine repairs drag on for Air NZ
New planes and engine repairs will bring Air NZ back to full strength by FT28. (Image: Supplied)
Pattrick Smellie
Air New Zealand’s pre-tax earnings would have been close to double in the year to June 30 if it had not had up to 11 aircraft grounded at any one time owing to engine maintenance issues with its domestic and international fleets.The airline reported pre-tax earnings of $189 million, towards the top of guidance given in April of between $150m and $190m, down 15% on the previous year.Lack of available aircraft had cost the airline about $165m, according to documents filed with the NZX this morning, after deducting compensation payments of $...

More Markets

Air NZ to airports: Stop subsidising Jetstar
Markets

Air NZ to airports: Stop subsidising Jetstar

Current airport regulation works against the national interest, Air NZ’s new CEO says.

Genesis sets out gas strategy
Markets

Genesis sets out gas strategy

Storage, Kupe’s long-term role and LNG flexibility anchor the plan.

RBNZ data scotches Dosh claims of bank registration application
Finance

RBNZ data scotches Dosh claims of bank registration application

The regulator received no bank-registration applications in July 2024. 

Ports owned by councils ‘underperform’ – is it time to list?
Markets

Ports owned by councils ‘underperform’ – is it time to list?

There is clear evidence that listing leads to better businesses, market experts say.