Air New Zealand says it would push back the delivers of Airbus A321neos on order, and undertake cost-cutting measures in response to slow market growth.
Airline said on Thursday, that it would push back delivery of three Airbus A321neos by 12 months, delay one A320neo by 24 months and two additional widebody aircraft by four to five years.
Air New Zealand was expected to take one leased A320neo aircraft between now and the end of the 2018/19 financial year, and one leased A320neo family aircraft in 2019/20.
New Zealand carrier also has extended the retirement of its ageing eight Boeing 777-200ERs, as it expected to replace them with Boeing 777-X, 787 family of aircraft and the Airbus A350 jets.
The airline says, fleet restructure would defer NZ$750 million in aircraft capital expenditure, in its two-year cost saving program.
Air New Zealand reported a 35.4% fall in net profit for the first half of 2018/19.