Air New Zealand (ASX:AIZ) implement capacity reductions

Company News

by Rachael Jones

Air New Zealand (ASX:AIZ) is further reducing capacity across its network as a result of the impact of Covid19 on travel demand.

The airline placed itself into a trading halt today to allow it time to more fully assess the operational and financial impacts of global travel restrictions.

On its long haul network Air New Zealand will be reducing its capacity by 85 percent over the coming months and will operate a minimal schedule to allow Kiwis to return home and to keep trade corridors with Asia and North America open.

Full details of this schedule will be advised in the coming days.

Shares in Air New Zealand (ASX:AIZ) are in a trading Halt - Last traded at $1.57.