The logo for Air New Zealand is displayed at their office located at Sydney International Airport, Australia, June 20, 2017. REUTERS\/David Gray<\/p>\n
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June 10 (Reuters) - Air New Zealand Ltd (AIR.NZ) on Friday improved its forecast for fiscal 2022, benefiting from a pick-up in demand following the opening up of domestic and international borders.<\/p>\n
New Zealand recently said it would fully reopen its international borders from end-July, and the country welcomed travelers from trans-Tasman neighbor Australia for the first time since mid-2021 in April. read more <\/p>\n
The airline now expects an annual loss before tax and significant items to be less than NZ$750 million ($478.73 million), compared to a prior forecast of less than NZ$800 million.<\/p>\n
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In May, the carrier said its annual loss could come in better than expected, owing to an improvement in passenger bookings for short haul and international services.<\/p>\n
Domestic demand has improved in recent weeks with business-related demand returning to about 90% of pre-COVID levels, the airline said.<\/p>\n
Air New Zealand, however, added it remains mindful of uncertain macroeconomic conditions, including COVID-19 led travel restrictions in some parts of the world and high jet fuel prices.<\/p>\n
(This story has been refiled to correct to trans-Tasman, from trans-Tasmanian, in paragraph 2)<\/p>\n
($1 = 1.5667 New Zealand dollars)<\/p>\n
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Reporting by Harish Sridharan in Bengaluru; Editing by Krishna Chandra Eluri<\/p>\n
Our Standards: The Thomson Reuters Trust Principles.<\/p>\n
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Air New Zealand raises annual earnings forecast on improved demand - Reuters<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" The logo for Air New Zealand is displayed at their office located at Sydney International Airport, Australia, June 20, 2017. REUTERS\/David Gray Register June 10 (Reuters) - Air New Zealand Ltd (AIR.NZ) on Friday improved its forecast for fiscal 2022, benefiting from a pick-up in demand following the opening up of domestic and international borders. New Zealand recently said it would fully reopen its international borders from end-July, and the country welcomed travelers from trans-Tasman neighbor Australia for the first time since mid-2021 in April Continue reading