- Air New Zealand trimmed its annual earnings estimates on Monday, citing economic headwinds and a cost-of-living crisis leading to softer revenue in domestic and North American markets, sending the carrier's shares to a near two-year low.
Earlier in February, the company forecast lower earnings for 2024 and flagged an impact from high engine maintenance costs."They have a very small domestic market and have always run on very thin margins. The geographic challenge for Air NZ in international competition will never change," said Brad Smoling, managing director at Smoling Stockbroking.Air New Zealand said its earnings will also take a hit of NZ$95 million in COVID-related credit breakage for this financial year.
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