Air New Zealand reports record annual results

Air New Zealand reports record annual results

Increased capacity supported by strong demand, cost efficiencies and lower fuel prices helped boost annual profits at Air New Zealand.

Pre-tax profits rose by 49% year-on-year to a record NZ$496 million in the 12 months to June.

The airline also expects to achieve further growth in the current financial year.

A performance bonus scheme will see 8,000 staff who are not on other incentive programmes, receive payments of up to NZ$1,400 next week.

Chairman Tony Carter said: “Our strategic initiatives over the past three years have positioned us well to take advantage of market dynamics which have contributed to these results.

“Our investment in new efficient aircraft, the continued development of our alliance partner relationships, world class sales and marketing execution, great customer service and strong focus on cost management have enabled Air New Zealand to achieve revenue growth against a stable cost base.”

He added: “We indicated at our interim result that lower fuel prices and current sales momentum have strengthened the company’s outlook, and this has seen the delivery of a record annual result that our shareholders and staff can be immensely proud of.

“Given the current known operating environment, along with our increased capacity and improved operating efficiencies, we expect to achieve significant earnings growth in the coming year.”


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