Air NZ expected $500m loss amid bubble pause

Air New Zealand expects an even higher 2022 fiscal year loss as the trans-Tasman travel bubble continues to disrupt travel between nations. The airline said it expects a loss of NZ$530m before tax and one-off items, compared with its previous forecast of NZ$450m. The carrier updated its loss expectations following its original forecast on 18 June. “The airline continues to assess the impact of this temporary suspension on passenger demand,” the statement said. “In conjunction with an expectation that demand on the Tasman may be slower to recover following the re-opening of a travel bubble and that there remains a risk of future suspensions.” In late July, PM Jacinda Ardern announced the trans-Tasman bubble would undergo a two-month suspension due to the latest COVID-19 outbreak in Australia. This followed not long after the closing of its borders to Victoria in early July because of the Delta variant spreading.<br/>