PRESS DIGEST-New Zealand newspapers - July 7

WELLINGTON, July 7 (Reuters) - Following are some of the lead stories from New Zealand metropolitan newspapers on Monday.

Stories may be taken from either the paper or Internet editions of the papers.

Reuters has not verified these stories and does not vouch for their accuracy.

DOMINION POST(www.stuff.co.nz)

Uncertainties facing airlines - Fyfe: If jet-fuel prices do not ease there will be a "rapid and significant" reshaping of the industry by the end of next year, Air New Zealand (AIR.NZ: Quote, Profile, Research) chief executive Rob Fyfe says.

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Economic forecasts stay gloomy: The economy is in recession after five boom years, and the next five years are not looking positive, says independent economics group Infometrics.

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Cheal exploration wells come up dry: Wellington-based Austral Pacific (APX.NZ: Quote, Profile, Research) has come up dry on two wells aimed at expanding its Cheal oil field in Taranaki, but it has not given up drilling.