Air New Zealand announced that its pre-tax profit for the year ending June 30 will fall by more than 23% because of soaring jet fuel prices. It said earnings will be less than NZ$200 million ($157.8 million), down from NZ$259 million the previous year. Last month ANZ reduced its full-year profit forecast to NZ$200-NZ$220 million (ATWOnline, April 28). It raised fares last month and from September it is cutting capacity on its Auckland-London Heathrow service by switching to 777-200ERs from ...

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