On 9th March 2020, Air New Zealand Limited (NZX:AIR) suspended earnings guidance for FY20 due to the significant uncertainty surrounding the scale, duration, and effect of the coronavirus pandemic.
- The NZ Government’s latest move to Alert Level 1 has allowed the company to gradually restart the Domestic network;
- However, revenue and earnings are substantially lower than expected prior to the outbreak of Covid-19;
- The airline is expecting to report an underlying loss before other significant items and taxation of about $120 million for FY20.
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