Air NZ sees annual underlying loss of up to $77.5m

Air NZ Thursday forecast an underlying loss of up to NZ$120m ($77.50m) for the financial year ending June 30, as it grapples with a plunge in air travel demand following the coronavirus outbreak. The airline last month warned of an annual loss after it reported a slew of impairment charges it would take on its planes and a 30% cut in its workforce. Air NZ said last week it was aiming to return to "healthy profits" by 2022 under a plan that includes flying fewer passengers and routes and possibly cutting more jobs. The company will record a NZ$70m non-cash gain in its full-year results related to the impact of foreign exchange movements on some of its unhedged debt, it said Thursday.<br/>