AUCKLAND—Air New Zealand is targeting significant cost savings over the next two years in response to a tightening demand environment that has eaten into its profitability. The carrier reported a fiscal 2019 net profit of NZ$270 million ($173 million) for the year ended June 30, compared to an NZ$390 million profit in its previous fiscal year. The carrier is predicting that its pre-tax profit will be in the range of NZ$350-450 million in fiscal 2020, compared to NZ$374 million in ...

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