Air New Zealand plans to return to profitability in two years' time.
An update to the market says the company expects it will be profitable by August 2022, when it releases its full year result.
It anticipates the airline will be flying about 13 million passengers a year by then, compared with almost 18 million pre-Covid-19, with fewer wide body aircraft.
It also expects to cut its wage bill by $150 million over the next two years in consultation with unions representing workers.
The national carrier is hopeful the trans-Tasman and Pacific routes for leisure and business passengers by by 1 September, with focus on delivering quality service.
"The Tasman and Pacific Islands offer the best value option for all our customers. International is focused on an excellent product offering and delivery for our business and premium leisure customers," chief executive Greg Foran said in the statement.
"If we can nail all that, I am hopeful we may even be a bit bigger than the 70 percent of our former size we are preparing for."