"Since the initial travel restrictions were introduced in early 2020, Air New Zealand has taken significant actions to reduce its cost base. Air New Zealand said its domestic capacity was at 76 per cent of pre-Covid levels, led by robust domestic tourism. Air New Zealand Boeing 787-9 Dreamliner flight NZ103 takes off from Auckland International Airport bound for Sydney. "This reflects lower expected refunds and redundancies compared to the first half of the financial year," Air NZ said. "Despite strong domestic and cargo performance, the scenarios we are currently modelling suggest we will make a significant loss in 2021."

Source: New Zealand Herald February 24, 2021 20:09 UTC