Air New Zealand targeting earnings of $350m-$450m

Company News

by Rachael Jones

Air New Zealand (ASX:AIZ) released their investor update for August saying that based upon current market conditions and assuming an average jet fuel price of US$75 per barrel, the airline is targeting earnings before taxation to be in the range of $350 million to $450 million.

This outlook excludes the impact of the new accounting standard for leases.

The number of passengers carried in August is up 2.2 per cent on the same time last year.

Fully imputed final dividend of 11.0 cents per share, resulting in annual ordinary dividends of 22.0 cents per share

Shares in Air New Zealand (ASX:AIZ) closed 1.61 per cent higher at $2.52