News / 'Extreme optimism' at Zim despite Q1 losses

© Mariusz Bugno

Israel’s Zim is pushing an optimistic forecast for the second half of 2023 after worse-than-expected first quarter losses, but analysts remain circumspect over the Israeli carrier’s future.

After bagging net income of $1.7bn in Q1 2022, Zim recorded a net loss of $58m, as a volume decrease of 10% in the same period this year led to revenues collapsing, down 63% to $1.33bn. Amid plunging rates, 64% down year-on-year to $1,390 per teu, this culminated in a $14m loss in ebit.

Chief ...