The airline's on course for a pre-tax loss in the current six months, and faces a potential half-billion-dollar drop in profits next year.
It reported a 585-million-dollar profit last year, but new Craigs Investment Partners data, forecasts a drop to 82-million.
Portfolio manager, Mo Singh, says jet fuel is a massive cost.
He says Air New Zealand's jet fuel bill last year was 1.5-billion-dollars, and any movement up or down and have a big impact in earnings.
