Air New Zealand sees third year of growth
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Air New Zealand has announced a 30% in pre-tax earnings to NZ$332 million (GBP169m) for the year ending 30 June, marking three years of earnings growth.
Net profit after tax for the period came to NZ$262m, up 45% on the previous year, while its statutory earnings before tax were at NZ$357m.
The carrier has attributed the result to the introduction of its Boeing 787-9 Dreamliners as well as renovations to its B77-200ERs and new terminals and lounges at Los Angeles and London.
“This is a result Air New Zealand can be proud of. Our employees, our customers and our shareholders can be confident that Air New Zealand continues to be a world leading airline both in terms of customer experience and financial performance,” the airline’s chairman Tony Carter said of the result. “We have made significant progress on our key strategic initiatives. With new aircraft offering better operating economics, an optimised network with the right alliance partners, disciplined cost management and a daily focus on improving the customer experience, we are very well positioned to continue growing.”
He said the carrier will “significantly grow” its capacity in the next 12 months as its new aircraft arrives. The airline’s results are expected to improve further by the end of this year.
Alliances have also helped the carrier to see a positive year including those with Virgin Australia, Cathay Pacific and most recently Singapore Airlines.
“This alliance is the third strategic revenue sharing alliance we have formed in recent years, following agreements with Virgin Australia (reauthorised in 2013) and Cathay Pacific in 2012. Forming alliances with the right partners in the right markets is a key pillar of our Go Beyond strategy,” said Air New Zealand’s CEO Christopher Luxon. “Strong alliances such as this provide us with a platform for sustainable growth, allowing us to open up new routes and markets across the Pacific Rim.”
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