Air NZ halts Seoul flights, cuts outlook

Air NZ has suspended services to Seoul as it flags a potential NZ$75m (US$47.4m) full-year earnings hit from the coronavirus outbreak. The airline announced Monday it would temporarily halt services to the South Korean capital following previously announced capacity reductions across its Asia routes, predominantly related to Shanghai and Hong Kong. Total Asia capacity will thereby reduce by 17% for the months of February through June. Weaker forward bookings for travel on the Tasman and domestic networks have also emerged as a result, the company said. The airline said its revenue outlook for the remainder of the financial year was expected to suffer as a result, with earnings net of significant items expected to be between $300m to $350m, down from the previous $350m to $450m guidance. <br/>