Air New Zealand celebrates growth in profits
Air New Zealand has lifted its earnings before tax for the first half of the 2013 financial year by more than 300%.
Chairman John Palmer described the interim profit result as excellent progress when put against the backdrop of a sluggish economic recovery and ongoing challenges facing the airline industry.
Normalised earnings before tax were NZ$139 million, up from NZ$33 million in the previous corresponding period. After tax net profit increased NZ$62 million to NZ$100 million.
“This is the best interim profit result for five years. The substantial change programme the airline has been implementing has positioned the business for consistent growth and sustainable profitability over the coming years,” Palmer said.
The company will lease two additional Boeing 777-300ER aircraft to join the fleet in 2014.
Chief executive Christopher Luxon said Air New Zealand had seen increased demand on its domestic routes, despite a slower than expected economic recovery.
“Our alliance with Virgin Australia is proving very successful, and our ownership interest of 19.99% reinforces this relationship,” he added.
Luxon said for the first time since the financial crisis, Air NZ’s international long-haul part of the network was profitable.
“A key driver in achieving this turnaround has been getting our network right and improving our sales execution,” he said.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
France prepares for a massive strike across all transports on September 18
Turkish tourism stalls due to soaring prices for accommodation and food
CCS Insight: eSIMs ready to take the travel world by storm
Germany new European Entry/Exit System limited to a single airport on October 12, 2025
Airlines suspend Madagascar services following unrest and army revolt