Air New Zealand pre-tax earnings dip
Air New Zealand has announced pre-tax earnings for the first six months of the financial year of $323 million, compared to $349 million in the same period last year.
Net profit after tax was $232 million. The airline said the result was driven by a 5.6% operating revenue growth, with ‘robust’ demand across all markets and particularly strong growth in the short-haul network.
Passenger revenue reached an all-time record for an interim. Chairman Tony Carter said: "This high quality interim performance was driven by robust passenger demand and revenue growth, reflecting the airline’s strong position in New Zealand and throughout our Pacific Rim network."
Chief Executive Officer Christopher Luxon added: "We are thrilled with the performance of our network in the period.
"The domestic market continues to show strength driven by the New Zealand economy as well as inbound tourism, and we will be increasing capacity approximately six percent across our regional and jet services to support that demand over the second half of the financial year.
"The Trans-Tasman and Pacific Island routes have also responded strongly to additional wide-body services and targeted capacity increases. Finally, our alliance partnerships continue to drive value across our international long-haul network, and have been a key factor in our ability to effectively compete against much larger airlines."
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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