Air New Zealand pre-tax profit soars 40% to NZ$357 million.
Air New Zealand has just released its results for the year to 30 Jun, with a third consecutive year of strong earnings growth.
Stautory profit before tax was $357 million and the carrier’s board declared a final dividend of 5.5c per share, bringing the total payout to shareholders this year to 10c per share, up 25%. A special dividend of 10c per share was also declared, as the result of a review of the company’s capital structure.
“This is a result Air New Zealand can be proud of,” said chairman Tony Carter.
“We have made significant progress on our key strategic initiatives. With new aircraft offering better operating economics, an optimised network with the right alliance partners, disciplined cost management and a daily focus on improving the customer experience, we are very well positioned to continue growing.”
Carter also flagged strong growth in the airline’s capacity over the next 12 months as new aircraft arrive.
CEO Christopher Luxon said Air NZ had further initiatives under way to improve the customer experience, including more 787-9 aircraft, the refurbishment of the 777-200ER fleet, new terminals and lounges in Los Angeles and London as well as multiple lounge upgrades across the network.
The strong Air NZ result was achieved despite little growth in turnover, with total operating revenue of NZ$4.7 billion, up 1%.
More information in today’s Travel Daily.