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Air NZ Half Year Results 2016
Well no one has posted this wonderful news of Air NZ impressive increase in profits.
Air NZ profit more than doubles to a record $338m in six months Air New Zealand has seen profit more than double thanks to a rise in the number of passengers, lower jet fuel prices and changes to its fleet. The airline posted a record net profit of $338 million for the first six months of the year, up 154 per cent. Operating cash flow was up 43 per cent at $541m. "We are delighted to start off 2016 with such a stellar performance," chairman Tony Carter said. "Air New Zealand's profitability, healthy free cash flow and solid balance sheet reflect the successful execution of the strategic plan by CEO Christopher Luxon and the executive team, which is focused on sustainable and profitable growth." ..... Luxon said the airline aimed to provide more routes and competitive prices in New Zealand and the wider region, "combined with modern aircraft offering better operating economics", Domestic demand was up 10 per cent, and the Tasman and Pacific Island markets continued to perform strongly for the airline, Luxon said. Official Interim Results presentation airnewzealand.co.nz |
Airlines and fuel companies are so similar.. Quick to raise retail prices when costs go up, but incredibly slow to drop prices when costs go down.
I think this year will be an interesting one for Air NZ. AA and QF are in a position to inflict some pain. |
More entertaining are the comments with the article.
I think it's great they're doing well. Just from personal observations i think there has been a massive increase in people flying to NZ and I get the feeling it's not just air NZ that are doing well out of it. I'm starting to wonder if busy season will ever end! |
Inbound tourism has been huge over the last 6 months.
Never read Stuff comments, especially when they involve an airline.. |
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