Air New Zealand profits rise 20%


Air New Zealand has reported a strong set of financial results for the first half of its financial year.

The national carrier generated pre-tax earnings of NZ$216 million (US$161m) for the six-month period, up 20% year-on-year. The airline’s operating revenues increased 3.4% to NZ$2.4 billion, which included NZ$2bn in passenger revenues.

Photo by Chameleons Eye
Photo by Chameleon’s Eye

Air New Zealand’s chairman, Tony Carter, said the company could be “very pleased” the result.

“We have excellent sales and marketing expertise combined with a consistent focus on cost control, an award-winning uniquely Kiwi customer experience and the delivery of outstanding operational performance,” Carter said

And the outlook for the next six months is bright, with Carter stating that the fall in fuel prices should lead to a “significant additional improvement in earnings in the second half of the financial year”.

“Fuel prices are lower than in November and the sales momentum has been maintained, further strengthening the company’s outlook for the current year and beyond,” he added.

Already this year, Air New Zealand has relaunched flights to Singapore as part of its alliance with Singapore Airlines. And CEO Christopher Luxon said this formed a “key part of our Pacific Rim growth strategy”.

“We have also announced plans for our first ever scheduled services to South America, flying direct to Buenos Aires… from December this year. Tickets go on sale soon, and this will become our 28th international destination, opening up exciting new possibilities for customers travelling between South America, New Zealand, Australia and Asia,” Luxon added.

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