Air New Zealand on Thursday upgraded its guidance for earnings before other significant items and taxation for the 2023 financial year on the back of strong demand and a decline in jet fuel prices.

The national carrier now expects earnings before other significant items and taxation for FY 2023 to be no less than NZ$580 million ($350.15 million), compared to its prior guidance range of NZ$510 million to NZ$560 million.

($1 = 1.6565 New Zealand dollars)

(Reporting by Nausheen Thusoo in Bengaluru; Editing by Maju Samuel)