Air NZ drops earnings guidance as virus takes a bigger toll

Mon, 09 Mar 2020

Air New Zealand has dropped its guidance for annual earnings on expectations of an even bigger hit from global outbreak of covid-19.And chief executive Greg Foran has offered to cut his salary in a range of initiatives to shore up the airline’s operation.The national carrier said it could no longer forecast earnings as the outbreak is evolving at a rapid pace. The airline had already cut its guidance for pre-tax earnings to between $300 million and $350 million for the 12 months ending June 30 from an earlier forecast of $350 million to $450 mi...

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