Air New Zealand's half-year earnings have taken a dive, according to today's report.

The airline has announced earnings before taxation of $185 million for the first half of the 2024 financial year- down 39 percent on the same period last year.

CEO Greg Foran says these earnings reflect a 'normalisation' following a huge surge in demand.

"Last year, we made, based on the amount of kilometres we flew, more money than we've ever made. So what you're seeing now is more of a normalisation, it's heavier going." 

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