Air NZ investors get more bad news as earnings guidance downgraded by up to NZ$60m

Air NZ has revised its earnings guidance for the second time this year. Air NZ's full year earnings could be up to NZ$60m lower than forecast, investors have been told. Based on the current market and reflecting an additional $25m headwind from increased jet fuel prices Air NZ issued an update on its 2019 outlook and was now targeting 2019 earnings before tax to exceed $340m. The announcement is the second earnings downgrade this year. The airline had been targeting 2019 earnings before tax to be in the range of $340m to $400m, based on a March 28 market update. That was down on its 2019 earnings guidance of $425m to $525m, made in 2018. The revised guidance came off the back of softening tourist numbers and ongoing problems with Rolls Royce engines fitted to the airline's Boeing 787-9 Dreamliners. <br/>