Sept. 5 (Bloomberg) -- Air New Zealand Ltd., the nation's biggest airline, will cut fares to Australia by an average 15 percent next month to boost passenger numbers amid slowing demand.
The new fares, effective Oct. 14, coincide with a NZ$60 million ($40 million) investment in new layouts and entertainment systems on the A320 jetliners and Boeing Co. 767 aircraft the airline flies to Australia and the Pacific Islands, the company said today in an e-mailed statement.
Flights to and from Australia and the Pacific account for about a quarter of Air New Zealand's passenger traffic. They are also less affected by the record-high fuel prices and declines in international travel demand that have prompted rivals including Qantas Airways Ltd. and Korean Airlines to cut some long-haul services.
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