Air New Zealand today announced record normalised earnings – before taxation of $216 million for the first six months of the 2015 financial year, an increase of 20 percent on the previous corresponding period. Statutory earnings before taxation were $197 million, while statutory net profit after taxation was $133 million (down 6 percent).
The result was driven by strong revenue growth, underpinned by increased capacity and improved yields across the network. Operating cash flow of $378 million was up 26 percent on the previous corresponding period.
Chairman Tony Carter said the result is one shareholders can be very pleased with, and it demonstrates again that Air New Zealand continues to be one of the few airlines in the world that is able to generate sustainable profits.
On his part, Chief Executive Officer Christopher Luxon said the airline continues to focus on offering competitive fares in all markets it serves. He added that 2015 is shaping up to be a very positive year for the airline.
“We recently recommenced flights on the Auckland-Singapore route as part of our alliance with Singapore Airlines – a key part of our Pacific Rim growth strategy, providing our customers with not only a convenient direct service, but great connectivity into South East Asia and markets beyond,” Mr. Luxon said.
The airline has also announced plans for its first ever scheduled services to South America, flying direct to Buenos Aires, Argentina, from December this year.
The airline is continuing to make significant investments in innovation and improving the customer experience, with more than $40 million being spent to upgrade airport lounges and roll out self-check kiosks and mobile technology.
The GSA for Air New Zealand in Greece is Discover the World.