Air New Zealand anticipates return to profit in latest forecast

Air New Zealand has lifted its expectation for annual profit with the demand for travel remaining strong and a fall in price of jet fuel. In a statement at NXZ, New Zealand Stock Exchange, the airline said that it expects profit before tax and one-time items of $510 million to $560m in the year to the end of June, up from its February 23 forecast of $450m to $530m and a turnaround from a pre-tax loss of $725m last year. “The airline has continued to experience strong levels of demand on both the domestic and international networks,” the airline said