Air New Zealand has reported a 34% dip in profit for H1 FY19.
Air New Zealand has attributed a 34% drop in its Net Profit After Tax (NPAT) in H1 FY19 to a 28% rise in fuel costs and increased operational costs.
The carrier’s operating revenue was up 7.1% to $2.9b, but earnings before tax fell 35% to $211 million.
Looking ahead for the remainder of the year, CEO Christopher Luxon acknowledged the rate of growth in the New Zealand market was slowing, noting the airline would be reviewing its network, fleet and cost base to reflect the new environment.
“We pride ourselves at Air New Zealand on being nimble and able to quickly adjust our business to reflect the changing macro environment and this time is no different,” he said.
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