Air New Zealand's woes are expected to last for as long as the war in Iran continues. 

The national carrier's revealed its looking at staff redundancies and more flight reductions due to the surging cost of jet fuel. 

It's now forecasting a full-year pre-tax loss of up to $390 million. 

Nikhil Ravishankar told Mike Hosking run rates won't get worse, but fluctuating jet fuel prices will keep weighing on the airline's financial results.  

He says fuel dropping from $200 to $150 is helpful, but it's not down enough considering normal prices are around $85. 

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