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- Release Date: 07/06/13 13:05
- Summary: FORECAST: AIR: Air New Zealand strengthens profit outlook
- Price Sensitive: No
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AIR
07/06/2013 11:05
FORECAST
REL: 1105 HRS Air New Zealand Limited (NS)
FORECAST: AIR: Air New Zealand strengthens profit outlook
The High Court was today advised of a settlement agreement between Air New
Zealand and the New Zealand Commerce Commission which resolves long standing
proceedings brought by the Commission against a number of airlines in 2008.
The settlement avoids further protracted and costly litigation. The
proceedings alleged agreements in relation to fuel and security surcharges on
air cargo.
The agreed settlement amount of $7.5 million is subject to Court approval and
a decision is expected within a few weeks. The amount was already factored
into the Normalised Earnings before Tax guidance communicated in April. The
Company has continued to perform soundly in stable market conditions and
expects the FY13 Normalised Earnings before Tax to be at the upper end of the
range provided in the April guidance.
ENDS
End CA:00237176 For:AIR Type:FORECAST Time:2013-06-07 11:05:53
