BUZZ-Air New Zealand drops to magnify weekly loss; Macquarie hikes PT

Reuters

02-07

BUZZ-Air New Zealand drops to magnify weekly loss; <a href="https://laohu8.com/S/MQG.AU">Macquarie</a> hikes PT

** Air New Zealand AIR.NZ falls as much as 2.4% to NZ$0.620; set to drop most since Jan. 20

** Stock set for weakest week since Nov. 11, 2024

** New Zealand's flagship carrier earlier this week said it will stop direct flights to Seoul at the end of March; flagged issues of engine availability for its fleet

** Macquarie raises PT to NZ$0.80 from NZ$0.79; retains "outperform"

** Believes co will deliver towards upper end of H1 outlook; sees aircraft availability issues normalising

** Shares gained 21.7% in 2024

(Reporting by Nichiket Sunil in Bengaluru)

((Nichiket.Sunil@thomsonreuters.com;))

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