Air New Zealand says higher fuel prices could hurt profits

[BENGALURU] Air New Zealand said on Wednesday higher than expected jet fuel prices could hurt profitability in 2019.

Chairman Tony Carter told the airline's annual shareholder meeting that prices lately had outpaced the US$85 per barrel the company had assumed in its 2019 earnings outlook.

Last month, Air New Zealand said its pretax profit would fall by up to 21 per cent in the current financial year due to higher fuel prices.

REUTERS