Air New Zealand says 441 job losses announced yesterday may not be the limit of staff cuts needed to boost profitability.

Air New Zealand shares have fallen 4pc this morning as chief executive Rob Fyfe poured cold water on speculation he could take the top job at Telecom.

Air New Zealand will soon have the monopoly on direct flights between Auckland and Los Angeles, say two leading travel agencies.

Qantas will end flights from Auckland to Los Angeles in May as part of cost-cutting measures.

Air New Zealand boss Rob Fyfe is backing the airline's struggling service to London but warning of seasonal cuts to the schedule.