Air NZ earnings slip

Air NZ earnings slip

AIR New Zealand has revealed earnings of NZ$323 million for the first half of the financial year and says it is on track to achieve its second-highest annual result, despite falling profits.

The carrier had strong operating revenue of NZ$2.7 billion in the six months to 31 Dec, an increase of 5.6% over the same period last year, including record passenger revenue of NZ$2.3 billion.

But its pre-tax earnings of NZ$323 million were down 7.4% and its net profit after tax was down 9.4% at NZ$232 million.

CEO Chris Luxon said “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 6% across our regional and jet services to support that demand over the second half of the financial year,” he said.

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Source: traveldaily