Air New Zealand CEO says airline absorbing most fuel shock
Air New Zealand CEO says airline absorbing most fuel shock RIO DE JANEIRO, June 6 (Reuters) - Air New Zealand AIR.NZ has offset only 25% to 40% of the hit from higher fuel prices through hedging and fare increases, Chief Executive Nikhil Ravishankar told Reuters on Saturday, as the carrier plans for elevated fuel costs going into its 2027 financial year.
The airline is planning around $150 per barrel jet fuel out of the Singapore Jet Index, he said on the sidelines of the International Air Transport Association's annual meeting in Rio de Janeiro. Ravishankar said Air New Zealand was not facing fuel supply shortages, but the price shock remained the main challenge.
(Reporting by Rajesh Kumar Singh)
((rajeshkumar.singh@thomsonreuters.com; +1-313-484-5370; Reuters Messaging: rajeshkumar.singh.thomsonreuters.com@reuters.net/))
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