Air New Zealand announced on 4 August that its fiscal 2022 loss would be bigger than earlier expected due to suspension of a quarantine-free travel arrangement with Australia, where Covid-19 cases are growing.
The travel bubble, which was launched in April as the two nations kept a tight leash on infections, was paused in July as Australia recorded an outbreak of the highly infectious Delta virus variant.
Air New Zealand said it now expects a loss before significant items and tax of as much as $371.8 mn, compared with its prior forecast of a loss. The company said that the suspension of the travel bubble had reduced its operating cash flow and that it expects to draw down further loan facility from the government.
While the carrier warned that demand in the Tasman region may be slower to recover following a reopening of the bubble, it said its cash flow was still positive, thanks to continued domestic performance and government schemes.
Australian airline Qantas said it would temporarily idle about 2,500 employees without pay for at least two months, as fresh Covid-19 restrictions in Australia slashed domestic travel demand.
Participants discussed the boundary between nature and ecotourism, whether mass visits to unique areas can remain safe, the responsibilities of investors, and how to prepare tourists for visiting specially protected natural areas.
The head of state expressed confidence that the Forum will be held at a high level, and that its results will contribute to the development of tourism in Russia and the expansion of humanitarian and business ties.
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