Air New Zealand expects to trim forecast losses by around $50 million this financial year as travel rebounds strongly.
The airline earlier this year said it was heading for a full-year loss before other significant items and taxation "of less than $800 million". In early May it said the result could be better than forecast and today said it now expects its full-year result to be a loss of less than $750m.
"The airline continues to see strong passenger booking activity on short-haul and international services following the opening of the New Zealand border. Domestic demand has also improved in recent weeks with business-related demand returning to approximately 90 per cent of pre-Covid levels," it said in an NZX statement.
There is potential for conditions to deteriorate again.
"The airline remains mindful that the macroeconomic environment continues to be uncertain with disruptions caused by the impact of Covid variants, continued travel restrictions in some markets, and the ongoing conflict in Ukraine contributing to high jet fuel prices," it said.