Freight subsidies keep Air NZ loss under half a billion dollars

Domestic leisure travel and subsidised international cargo revenues are bright spots for Air NZ. (Image: BusinessDesk)

Thu, 26 Aug 2021

Air New Zealand made a trading loss of $440 million in the financial year to June 30, with freight subsidies from the NZ and Australian governments worth $333m contributing materially to the loss not climbing closer to $1 billion.Wage and air navigation fee subsidies, along with relief on passenger biosecurity levies contributed another $115m in a result that showed the first full year of the impact of covid-19 on the national carrier’s performance.The loss before the inclusion of significant items and tax compared with an $87m loss in th...

Unlock all stories free for 10 days

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

We won’t charge for 10 days. You can cancel anytime with two clicks, an email or a phone call. Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

You will be charged in 10 days unless you cancel beforehand.
We will remind you three times before charging you.
All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets Market close

NZ sharemarket falls nearly 0.5%

The S&P/NZX 50 Index closed at 11,745.53, down 49.28 points or 0.42%.

Graham Skellern 6:15pm

The Quiz Free

QuiznessDesk: Monday, July 08

Test your smarts against our Quizmaster.

The Quizmaster 9:15am

Markets

Aus: Tax cuts, rates chatter to play into consumer sentiment

Consumer and business confidence surveys are due out this week.

AAP 7:00am

Aus: Tax cuts, rates chatter to play into consumer sentiment

Sponsored

Five steps to potent data monetisation

Realising the true value of an organisation’s data.

Spark

Sponsored

Smart chargers don't just charge EVs

They also take the pressure off a stressed power network - We.EV

We.EV

More Markets

Markets Market close

NZ sharemarket falls nearly 0.5%

The S&P/NZX 50 Index closed at 11,745.53, down 49.28 points or 0.42%.

Graham Skellern 6:15pm

Markets

Contact expects strong FY25 as projects near completion

Contact Energy expects to report "materially higher" earnings for the year to June 30, 2025. The company said normalised and expected earnings before interest, tax, depreciation, amortisation and fair value adjustments (ebitdaf) for FY2025 were expected to be $770 million, well a...

Staff reporters 11:00am