New Zealand’s national carrier is feeling the pinch from lockdowns, travel route shutdowns and restrictions on the aviation sector
Air New Zealand is operating at less than one-third of its usual domestic capacity due to the tough restrictions in Auckland and doubts whether a travel bubble with Australia will reope.
According to the airline’s CEO, operations outside of Auckland are running at full speed, but with the major city equating to two-thirds of the domestic network, the financial hit is huge.
Foran says that current COVID restrictions within Auckland are having a “pretty significant impact to our business.”
The major financial losses:
Air New Zealand stated that it is burning through around NZ$25 million to NZ$35 million of cash a month due to the lockdown in the country’s largest city, which the government says will be scaled back in phases as vaccination rates rise.
New Zealand was one of a handful of countries around the world that brought COVID cases down to zero, sticking to an eradication strategy. The delta variant however proved too much.
The closure of a quarantine-free travel bubble with Australia is costing the Air New Zealand a further another $20 million to $25 million a month in cash burn.
The airline’s CEO said it was possible the New Zealand government would treat Australia like any other country in the future when it came to testing and quarantine rules, as is being done now.
In the debate surrounding housing affordability, a divergence emerges between media portrayals and stark realities. While the crisis is often depicted as insurmountable, critics argue that individuals tend to blame external factors rather than taking personal responsibility.
Despite challenges, advocates urge a shift from despair to possibility, emphasizing personal agency and proactive pursuit of homeownership goals. Thus, while acknowledging the hurdles, reframing the discourse empowers individuals to navigate the housing market with resilience and determination, making the dream of owning a home a tangible reality for those willing to seize it. #Trending #Featured
What does it take to be a top performing real estate agent?
Wyld Money dives into the world of financial freedom. Whether you’re a seasoned investor or just getting started, join us for actionable tips and tricks to unlock your earning potential, and retire on your own terms.
In this episode, Mark delves into the fast paced world of LA luxury real estate with renowned agent, Glen Coutinho from Rodeo Realty Beverly Hills. #wyld money #trending
GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.
Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.
Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending