No bottom in sight for Air New Zealand (except their ads)

Air New Zealand's yields continued to crumble last month. According to The Centre's calculations, Group yields fell 4.9% last month (following a 1.1% increase in May-2009). And short-haul yields took a hammering following Jetstar's entry in the domestic market. Air New Zealand's domestic yields fell 10.5% last month, following a 4.5% fall in May-2009. Long-haul yields were flat in Jun-2009, following a 7.2% increase in May (they were growing as much as 21% in Feb-2009).