Air New Zealand posts biggest annual loss due to anti-Covid restrictions

Sydney (Australia), 25 August. New Zealand airline Air New Zealand announced this Thursday a net loss of 591 million local dollars (366.72 million US dollars or 367 million euros) between July 1, 2021 and June 30, 2022, as a result of the maritime nation’s anti-Covid restrictions.

The figures more than double the 292 million New Zealand dollars (181 million US dollars or 181.4 million euros) reported last year, according to data released by the company in a statement.

Air New Zealand said operating income of 2.7 billion New Zealand dollars (1,673 million US dollars or 1,676 million euros) had been significantly affected by pandemic-related travel restrictions.

In addition to anti-pandemic measures affecting international travel, New Zealand’s flag carrier was hit by higher fuel prices, while its global revenue was boosted by the cargo sector and domestic travel.

New Zealand, which used one of the world’s toughest policies to combat Covid-19 in March 2020, including closing its borders, began on March 1 to allow only vaccinated foreigners without the need for quarantine. August. , launched at the end of February in line with its progressive plan.

In the current financial year ending June 30, 2023, Air New Zealand expects its planes to reach 75-80 percent of the travel volumes they flew before the pandemic. EFE

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