🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Air New Zealand pauses Auckland to Chicago non-stop service

Published 03/11/2024, 07:15 PM
Updated 03/11/2024, 07:21 PM
© Reuters.
BA
-
RYCEY
-

(Reuters) - Air New Zealand said on Tuesday it plans to pause its Auckland to Chicago non-stop service from March 31 to Oct. 25 this year due to ongoing challenges with the availability of serviceable Rolls-Royce (OTC:RYCEY) Trent 1000 engines.

The airline added that it does not expect an impact to its full-year results as it plans to re-accommodate most of the impacted customers to alternative services.

"Air New Zealand continues to be impacted by challenges with availability of Rolls-Royce Trent 1000 engines ... we will now have up to three aircraft unavailable for an extended period," the company's Chief Customer and Sales Officer Leanne Geraghty said.

The engines are used in Air New Zealand's Boeing (NYSE:BA) 787 aircraft.

Rolls-Royce has been unable to provide the company with spare or replacement engines, leading to a reduction in the amount of flying Air New Zealand can deliver via its 787 fleet, the carrier said.

© Reuters. FILE PHOTO: An Air New Zealand Boeing 787-9 Dreamliner plane taxis at O'Hare International Airport in Chicago, Illinois, U.S. November 30, 2018. REUTERS/Kamil Krzaczynski/File Photo

The airline's fiscal 2024 earnings before taxation forecast is in the range of NZ$200 million ($123.3 million) to NZ$240 million, lower than the NZ$574 million reported in fiscal 2023.

($1 = 1.6221 New Zealand dollars)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.