In an update on its earnings expectations, the company said the recent move to alert level 1 has enabled the airline to slowly restart the domestic network, however revenue and earnings are significantly lower than expected prior to the Covid-19 pandemic.
It said it was now expecting an underlying operating loss of $120m.
But there are other significant one-off items which will boost the bottom line result.
The company is estimating re-structuring costs, including redundancies, will be between $140 and $160m