The national carrier's been forced to cut international capacity by 85-percent in the wake of the Covid-19 pandemic.
It'll operate a minimal schedule to allow New Zealanders to return home and maintain trade corridors with Asia and North America.
Capacity on domestic routes will be reduced by around 30 percent in April and May.
Herald aviation writer Grant Bradley says the Government may need to step in.
He says there's no way it would let the airline deteriorate further financially but it's going to be a challenging year.