Updates

** Shares of Air New Zealand AIR.NZ rise as much as 4.3% to NZ$0.49

** Stock books biggest intraday jump since April 10, 2025

** New Zealand's flag carrier says it is progressing cost-reduction initiatives in response to rising jet fuel prices

** Says Middle East war leading to extreme volatility in jet fuel markets, suspends FY26 earnings forecast

** Adds, may need to take further pricing action, adjust network and schedule if elevated costs persist

** Airline shares across Asia stabilised on Tuesday as oil prices fell after Trump predicted the war in the Middle East could end soon O/R

** AIR down 17.7% YTD, including day's moves