7 Jun 2013

Air NZ issues profit forecast

1:57 pm on 7 June 2013

Air New Zealand is forecasting its full year pre-tax normalised earnings to be at the upper end of its guidance range.

The airline will also pay the Commerce Commission $7.5 million to settle their long-standing dispute over allegations Air New Zealand conspired with other airlines to fix cargo prices.

The settlement is subject to Court approval and a decision is expected within a few weeks.

Air New Zealand says the amount was already factored into its guidance issued in April in which it forecast pre-tax normalised earnings of between $235 million and $260 million.

It says the company has continued to perform soundly in stable market conditions.