The government giveth and the government taketh away.
Air New Zealand increased second-half 2021 cargo revenue by nearly 2.5 times the 2019 level to US$321 million, and 29% year-over-year, with a big boost from a government subsidy program primarily aimed at air cargo. But the overall business couldn’t withstand extended national border restrictions and a 107-day COVID lockdown of the capital, Auckland, resulting in a dramatic decline in passenger traffic and $250 million pretax loss, the...
https://www.freightwaves.com/news/government-cargo-subsidy-cushions-air-new-zealands-2021-loss