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Air Zealand profit warning causes shares to plunge

Tuesday, March 15th, 2011

15 March 2011
News reports state that Air New Zealand shares are down almost 6 per cent this morning after the airline warned of a sudden downturn in demand in the wake of the Christchurch earthquake and the Japanese tsunami.
In an unscheduled earnings update the airline said it expected to lose money in the second half of the financial year to June 30, and that full year earnings were expected to be below $100 million.