Air New Zealand: 2020 outlook adversely impacted by travel demand to/from Asia

23 February, 2020

Air New Zealand reported (24-Feb-2020) its revenue outlook for the remainder of 2020 is expected to be adversely impacted as a result of softer demand for travel to and from Asian destinations, weaker forward bookings on domestic and Tasman services, and expects a negative impact to earnings in the range of NZD35 million (USD22.1 million) to NZD75 million (USD47.4 million) as a result of the coronavirus. At the midpoint of the estimated range, Air New Zealand is targeting earnings before other significant items and taxation to be in the range of NZD300 million (USD189.5 million) to NZD350 million (USD221.1 million). Air New Zealand immediately implemented adjustments to capacity across the Asia, Tasman and domestics, as well as increased market development investment to drive demand. [more - original PR]