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Freight subsidies keep Air NZ loss under half a billion dollars

Pattrick Smellie
Thu, 26 Aug 2021

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

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