Air New Zealand has said its earnings may come under pressure in the next financial year because of increased competition in some international markets and reduced foreign exchange hedges. The airline told analysts it expects earnings to be “solid” for the 12 months to June 30, 2017, but will not reach the level of profit for the current financial year, which runs through the end of next month. Part of the reason is that next year it will not have the benefit of NZ$120 million ...

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