Air New Zealand says impact from coronavirus likely to be bigger than estimated

Carrier withdraws financial guidance given two weeks ago due to increasing disruption

Air New Zealand has told investors that the coronavirus outbreak means it cannot predict how the business will fare this year as the economic impact outstripped its already downgraded outlook.

The carrier’s chief executive has also taken a pay cut as it braces for a greater-than-expected hit from virus-related closures and travel bans that are hurting the wider aviation industry.

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