Corrected: Air New Zealand logs biggest annual loss since 2023
CORRECTED-Air New Zealand logs biggest annual loss since 2023 Corrects milestone in headline to 2023 from 2024, corrects FY26 and prior year profit numbers in paragraph 2, and removes extraneous Urgent tag
Aug 28 (Reuters) - Air New Zealand AIR.NZ swung to it largest annual loss in three years on Friday as a surge in fuel prices amid the Middle East conflict, compounded by ongoing impact of multi-year engine availability issues and rising costs, weighed on its performance.
New Zealand's flagship carrier reported a loss before taxation of NZ$336 million ($199.85 million) for the year ended June 30, compared to a profit of NZ$164 million a year earlier.
That compares with the Visible Alpha consensus estimate of NZ$356.5 million in pretax loss.
($1 = 1.6812 New Zealand dollars)
(Reporting by Anjali Singh and Jasmeen Ara Shaikh in Bengaluru; Editing by Leroy Leo and Joyjeet Das)
Recent news on Air New Zealand
See all newsBrief: Air New Zealand Increases Flights To Vancouver, Shanghai, Taipei And Papeete
Boeing jet deliveries drop 14% in October
Analysis: As Iran war drags on, airlines pull back on fuel hedges and warn on fares
Brief: Air New Zealand To Add More Than 7,000 Seats Added Between Shanghai And Auckland
Brief: Air New Zealand Announces Results Of 2026 Annual Shareholders’ Meeting