Kiwi carrier reports 154% increase in net profit
Air New Zealand has just announced a whopping triple-digit increase in net profit after tax of $NZD338 million for the first six months of the 2016 financial year – up 154% on the corresponding period the year prior.
The Star Alliance member carrier said the result was “driven by exceptionally strong passenger revenue growth, underpinned by over 16 percent capacity growth across the network”.
Air NZ’s operating cash flow over the period was NZD$541 million, up 43% on the prior period, while passenger revenue jumped 16% to NZD$2.3 billion.
Due to the strong finanical performance, Air New Zealand’s Board of Directors has declared a fully imputed interim dividend of 10.0 cents per share, up 54% year-on-year.
CEO Christopher Luxon cited the “dedication and hard work” of all employees for the outstanding result.
Luxon also flagged a bigger presence for the Australian market going forward.
“New Zealand continues to be not only a destination that is in big demand for Australians but is also a gateway to North America, South America and the Pacific Islands for travellers from Australia. This traffic is adding to the strength of Air New Zealand’s services to these markets. In recognition of the opportunity, we will continue to build our presence in Australia,” Luxon said.
See today’s issue of Travel Daily for further information.