Air New Zealand profit slumps on cost inflation.

Air New Zealand has reported a decline in earnings for the 2024 financial year compared to the previous year. The airline cited various factors for the decrease, including a tougher economic environment in New Zealand, maintenance issues with aircraft engines, increased competition from US carriers, and high inflation. Despite these challenges, Air New Zealand remains committed to investing in the future, with plans for aircraft-related capital expenditure and a retrofit program for existing aircraft. The airline expects the current economic and operating conditions to continue into the first half of the 2025 financial year. [Extracted from the article]