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Air New Zealand set to slash domestic airfares by up to 50 percent

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Air New Zealand is set announce new airfares across its domestic routes later this week, Newshub has reported.

According to Newshub, the airline's preparing to reveal dramatic price cuts of up to 50 percent off its entry level fares on more than 40 routes in the next 48 hours.

Apparently the airline has been working on a strategy to stimulate activity on its domestic market.

The move comes less than a month after Air New Zealand announced a profit downgrade.

-Newshub.