Air New Zealand lowers annual earnings outlook citing 'challenging' economic conditions

Air New Zealand AIR on Monday cut its earnings outlook for fiscal 2024 on the back of challenging economic conditions and ongoing cost-of-living pressures leading to softer revenue in both domestic and North American markets.

New Zealand's flagship carrier now expects earnings before taxation between NZ$190 million ($112.01 million) and NZ$230 million for 2024, down from a previous estimate of NZ$200 million to NZ$240 million.

($1 = 1.6964 New Zealand dollars)