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AAP
AAP
Lifestyle
Steven Deare

Air NZ flags bigger hit from bubble pause

Air New Zealand forecast bigger losses due to suspended travel between Australia and New Zealand. (AAP)

Air New Zealand has forecast a bigger financial hit after New Zealand suspended its travel bubble with Australia.

The airline on Wednesday forecast losses before significant items and tax to worsen from the previously stated $NZ450 million ($A427 million) to $NZ530 million ($A503 million) this financial year.

The company updated its estimate after New Zealand suspended quarantine-free travel from July 23 for eight weeks due to coronavirus outbreaks in Australia.

Air New Zealand said its estimate included the likelihood that customer demand would be slower to recover once travel was allowed again.

The estimate of losses assumes a New Zealand dollar buying 70 US cents, and a fuel price of $US78 per barrel.

Shares were unchanged at $1.41 at 1142 AEST.

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