Air New Zealand has posted a pre-tax loss of $336 million, driven by jet fuel prices, engine availability, aviation systems costs and maintenance.
The airline reported a net loss after tax of $242 million and total revenue of $7 billion.
“It’s been a very challenging year for aviation, and our financial result reflects these challenges," chief executive Nikhil Ravishankar said.
"Given the price sensitivity of air travel, airlines globally have not been able to recover the full increase in fuel costs. We took quick and decisive action through fare adjustments and capacity reductions to balance affordability for customers and maximise recovery and will continue to do so."
More to come
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