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Air New Zealand posts 8.8% fall in half-year profit

Published 27/02/2020, 06:50 am
© Reuters.  Air New Zealand posts 8.8% fall in half-year profit
AIZ
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Feb 27 (Reuters) - Air New Zealand Ltd AIR.NZ on Thursday reported an 8.8% fall in half-year adjusted pre-tax profit amid disruptions in Hong Kong and higher competition, and said it could handle short-term impacts from the coronavirus outbreak.

The airline's profit before significant items and tax, its most closely watched measure, was NZ$198 million ($125.00 million) in the six months ended Dec. 31, down from NZ$217 million a year earlier.

Earlier this week, the carrier said it expected a net negative impact to its full-year earnings in the range of NZ$35 million to NZ$75 million as a result of the coronavirus and announced cuts to domestic and international capacity due to the fall in demand. = 1.5840 New Zealand dollars)

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