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Air New Zealand cuts flights, profit outlook on coronavirus hit

Air New Zealand has followed Qantas in slashing flights to Asia and across the Tasman as it prepares to take a financial hit of up to $NZ75 million ($72 million) from the coronavirus crisis.

The carrier on Monday said it would cut capacity into Asia by 17 per cent from February through to June, including the suspension of Seoul services from March 7.

Air New Zealand says the coronavirus will cost it up to $NZ75 million.

Air New Zealand says the coronavirus will cost it up to $NZ75 million. Credit:AP

Air New Zealand had already suspended flights to Shanghai and reduced frequency to Hong Kong, with the COVID-19 outbreak severy denting travel demand in and around Asia and taking a heavy toll on the region’s airlines.

Flights between New Zealand and Australia will be reduced by 3 per cent from March through to May, the airline said, while domestic flying will be cut 2 per cent in March and April.

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