By John Flett
Air New Zealand and Qantas Look Beyond Losses to Future Competition
Air New Zealand and Qantas announced their full-year financial results for 2021-22 on Thursday with both airlines reporting a third straight loss. Both Air New Zealand’s and Qantas’ fiscal years are from July 1 through June 30.
The Kiwi flag carrier posted a loss ‘before other significant items and taxation’ of 725 million New Zealand Dollars ($451 million), compared to a figure of 444 million New Zealand Dollars in the 2020-2021 financial year. The figure is in line with the projections Air New Zealand offered the share market and comes after a particularly disruptive 12-month period due to the ongoing impact of Covid-related challenges and repressive travel restrictions for most of the reporting year.
In a video, to shareholders and customers, Air New Zealand Chair Dame Therese Walsh and Chief Executive Officer Greg Foran acknowledged the…
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