Reported about 7 hours ago
Air New Zealand announced a smaller-than-anticipated decline in its annual profit for 2025, although it warned that persistent engine maintenance issues and weak domestic demand will continue to strain earnings in the current financial year. The airline's pre-tax earnings for the first half of fiscal 2026 are expected to be flat or lower than the previous NZ$34 million, significantly less than last year's NZ$155 million. CEO Greg Foran highlighted that unforeseen delays in engine maintenance led to grounding several aircraft, impacting potential profits. Despite these challenges, the airline's earnings of NZ$189 million for the fiscal year surpassed analysts' expectations.
Source: YAHOO