Air New Zealand has blamed weak domestic demand and increased competition on North American routes for another downgrade to earnings guidance this financial year.
Air NZ now expects underlying earnings for 2023-24 of $NZ190 million ($175 million) to $NZ230 million, a stunning decline after its first-half result of $NZ185 million.
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Ayesha de Kretser is a senior reporter with The Australian Financial Review covering the aviation and tourism sectors. She has previously reported on banking, mining and commodity markets. Connect with Ayesha on Twitter. Email Ayesha at ayesha.dekretser@afr.com.au
