- Reuters
Air New Zealand falls after earnings outlook cut on stiff competition
Air New Zealand trimmed its annual earnings estimates on Monday, citing economic headwinds and a cost-of-living crisis leading to softer revenue in domestic and North American markets, sending the carrier's shares to a near two-year low. Shares of Air NZ slipped as much 3.5% to NZ$0.550, hitting their lowest level since July 1, 2022. New Zealand's flagship carrier now expects earnings before taxation between NZ$190 million ($112.01 million) and NZ$230 million for 2024, down from previous estimate of NZ$200 million to NZ$240 million.
- Reuters
Air New Zealand pauses Auckland to Chicago non-stop service
"Air New Zealand continues to be impacted by challenges with availability of Rolls-Royce Trent 1000 engines ... we will now have up to three aircraft unavailable for an extended period," the company's Chief Customer and Sales Officer Leanne Geraghty said. The engines are used in Air New Zealand's Boeing 787 aircraft. Rolls-Royce has been unable to provide the company with spare or replacement engines, leading to a reduction in the amount of flying Air New Zealand can deliver via its 787 fleet, the carrier said.
- Reuters
UPDATE 1-Air New Zealand pauses Auckland to Chicago non-stop service
Air New Zealand said on Tuesday it plans to pause its Auckland to Chicago non-stop service from March 31 to Oct. 25 this year due to ongoing challenges with the availability of serviceable Rolls-Royce Trent 1000 engines. "Air New Zealand continues to be impacted by challenges with availability of Rolls-Royce Trent 1000 engines ... we will now have up to three aircraft unavailable for an extended period," the company's Chief Customer and Sales Officer Leanne Geraghty said. The engines are used in Air New Zealand's Boeing 787 aircraft.
