Moody's affirms Air New Zealand

Moody's Investor's Service said it affirmed Air New Zealand Ltd.'s Ba1 senior unsecured issuer rating. The outlook remains positive.

Despite the likelihood of more turbulent conditions ahead for the airline industry, the rating remains well supported by the company's dominant position in its core domestic market, sound financial metrics for the rating and an efficient low-age aircraft fleet, Moody's said.

On the other hand, the company is not exempt from the adverse global conditions that currently threaten the industry, including the impact of slowing domestic and international economies, and which are likely to represent reasonable challenges over coming months, the agency added.

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