0057 GMT - Air New Zealand's timeline for a return to profitability is consistent with market expectations. Still, Forsyth Barr is less bullish than other market observers about what it can achieve. Air New Zealand aims to cut some NZ$100 million of costs and has changed its return on invested capital goal. Still, it only expects to be profitable again in FY 2028, given higher fuel prices and a hangover from engine maintenance costs. Analyst Andy Bowley notes consensus forecasts assessed by Visible Alpha currently assume a pretax loss of NZ$189 million in FY 2027 and a pretax profit of NZ$135 million in FY 2028. That compares with Forsyth Barr's expectation of a NZ$212 million loss and NZ$60 million profit in FY 2027 and 28, respectively. It retains an underperform call on Air New Zealand. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

June 30, 2026 20:57 ET (00:57 GMT)

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