ANZ profits expected to be healthy
Analysts are expecting Air New Zealand to post a profit of $140 million before interest and tax, as the airline itself indicated in June.
The airline’s optimism was based on a 10% hike in fares and more demand for premium long-haul seats.
Analysts will also be looking for some confirmation that a heavy number of layoffs and plans for outsourcing will result in lower costs.
It has outsourced aircraft engine maintenance and cleaning, signalled head office cuts and, it is rumoured, plans to outsource most of its finance and ground work to save $250 million.
Looking ahead, persistently high oil prices and the less profitable trans-Tasman and Asian routes are likely to drag on next year’s profitability.
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.
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