New Zealand News

More Losses but a Nsett Nzflies On

Ansett New Zealand will fly on-but its five year string of massive losses is likely to continue for at least another two years before the airline breaks even.

The Australian owned airline broke a five year tradition of refusing to publish financial results by unwrapping a bottom line loss of $NZ33. 2m for the June 30 year. Total losses since Ansett New Zealand started services in mid 1987 are between $NZ160m and $NZ200m. The 1991-92 loss is not as bad as the previous 12 months. It appears Ansett lost $NZ42. 6m then.

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