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Air NZ bracing for big hit as fuel costs soar

Otago Daily Times Online News·Thursday, 14 May 2026·19 days ago
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Air New Zealand says it is expecting a full-year pre-tax loss of between $340 and $390 million due to the soaring cost of jet fuel . The airline expects fuel costs in the second half of its financial year to be $980m, compared to previous expectations of $740m. It said that has driven a $240m headwind to the expected full-year result, including hedging. The national carrier said jet fuel prices were around $US85 to $US90 per barrel prior to the Iran war, but had soared to between $US160 and $US230 over the past 10 weeks. "The scale and speed of recent movements in jet fuel prices and refining margins have created a material external shock for the global aviation sector," Air New Zealand told the NZX in a statement today.  It said it had "moved quickly" to limit the impact of fuel costs.…

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