Strong domestic activity and freight revenues have enabled Air New Zealand to incur an annual loss of less than $ 450 million. It also announces a new delivery date for the first of eight new Boeing 787s Dreamliner.
The airline said the operating environment remained difficult and uncertain with regards to delays in reopening international borders, progress of global vaccination programs and levels of recovery in customer demand. But it has seen positive EBITDA since September 2020 and has cash flow positive since second quarter of fiscal 2021, results made possible by government air cargo support programs, wage subsidies and other aviation assistance programs. The New Zealand company also said that all permanent employees will receive a $ 1,000 prize on actions in recognition of their efforts.
In a business update this week, Air New Zealand said the inner capacity was now around 90% pre-Covid levels. Long-haul international passenger travel remains very limited, with passenger volumes currently below 5% pre-Covid levels, while international borders remain effectively closed. She believes, however, to be “Well positioned” to capitalize on the return in demand for long-haul international travel. “For us that means putting even more emphasis on our customer obsession, making sure we understand what our customers really want from their journey from start to finish. This means maintaining the hard-won structural cost reductions achieved across our company since the start of this pandemic and ensuring continued cost vigilance ”, did he declare.
Finally, Air New Zealand recently renegotiated the delivery date of the first of eight new Boeing 787 Dreamliner, which were ordered in September 2019 (Sept 787-10 and a 787-9) before the Covid-19 outbreak. The first aircraft was initially scheduled to join its fleet during fiscal year 2023, but an agreement was reached to postpone delivery of this aircraft to fiscal year 2024. The national company, which took possession of the first aircraft of this type in july 2014 already operates a fleet of 14 Boeing 787-9s.
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