Air New Zealand lowers annual earnings estimates due to economic headwinds and competition.

Air New Zealand trimmed its annual earnings estimates, citing economic headwinds, cost-of-living crisis, and competitive pricing pressures in North American markets. This has led to a drop in shares, reaching near two-year lows. The airline now expects earnings before taxation to be between NZ$190 million and NZ$230 million for 2024, down from previous estimates of NZ$200 million to NZ$240 million. Amidst these changes, Air New Zealand expects market conditions to worsen in the current financial year.