Air New Zealand shares spike on recovery talk

Air New Zealand CEO Rob Fyfe has stated that the carrier could return to profitability within months and he would be surprised if it suspended any routes. Air New Zealand issued a profit warning earlier this week, due to the increasing cost of oil and natural disasters in Christchurch and Japan, but Mr Fyfe insisted that while the airline's full-year pre-tax profit could be NZD50 million-60 million lower than initial estimates, operations could be profitable in the first half of its next financial year, commencing 01-Jul-2011.