Go Back  FlyerTalk Forums > Miles&Points > Airlines and Mileage Programs > Air New Zealand | Air Points
Reload this Page >

Air NZ announces profit of $374 million, maintains dividend

Air NZ announces profit of $374 million, maintains dividend

Old Aug 21, 2019, 5:03 pm
  #1  
Original Poster
 
Join Date: Mar 2008
Location: Auckland
Programs: NZ*GE / EK*GOLD
Posts: 2,503
Air NZ announces profit of $374 million, maintains dividend

22/8/2019, 8:33 am FLLYRAir New Zealand today announced earnings before taxation for the 2019 financial year of $374 million, compared to $540 million in the prior period. Net profit after taxation was $270 million and operating cash flow was $986 million.

The result was driven by operating revenue growth of 5.3 percent, which was offset by a $191 million increase in the price of fuel, as well as a temporary increase in operating costs as the airline sought to improve network resiliency for its customers in the face of the global Rolls-Royce engine issues.
https://www.nzx.com/announcements/339567
Link at the bottom to Annual Results presentation
Rebound is offline  
Old Aug 21, 2019, 9:14 pm
  #2  
 
Join Date: Jun 2008
Location: Auckland
Programs: NZ Elite Partner/Silver (in own right), PR Classic, QF Bronze, UA Member, VA Red
Posts: 1,549
Originally Posted by Rebound
https://www.nzx.com/announcements/339567
Link at the bottom to Annual Results presentation
staff bonus this year = $100 (was $1800 last year)
jeffrocowboy is offline  
Old Aug 21, 2019, 10:57 pm
  #3  
Original Poster
 
Join Date: Mar 2008
Location: Auckland
Programs: NZ*GE / EK*GOLD
Posts: 2,503
The airline will also take delivery of six ATR aircraft and three Airbus A320/321 NEO aircraft in the 2020 financial year, which will provide continued growth, fuel efficiency and cost benefits on the Tasman and Pacific Islands network. An additional Boeing 787-9 Dreamliner will also join the fleet this year.
Rebound is offline  
Old Aug 22, 2019, 8:04 am
  #4  
 
Join Date: Jul 2014
Location: YYZ/SFO/AKL
Programs: NZ*G, back of the bus UA, corner of the MLL AC.
Posts: 373
Maybe they could sink that dividend into hard product that's actually competitive...
gratn and poopbunny like this.
samyoull is offline  
Old Aug 22, 2019, 2:51 pm
  #5  
 
Join Date: Nov 2007
Location: BLQ / TRG
Programs: NZ*E, UA*1K, QF Plat
Posts: 1,068
Originally Posted by samyoull
Maybe they could sink that dividend into hard product that's actually competitive...
+1
Most of my international business class is on other carries now due to Mr Luxon's reluctance to invest in customer experience. 2.5 years ago I discussed this with him and he was aware of the issue. And has done nothing.
The same with the Auckland International lounge. He was aware of the issues. And has delivered......? Shameful for the airlines key hub.
The LH panorama lounge in FRA shows what can be done for a decent lounge experience.
poopbunny likes this.
WLGNZ is offline  
Old Aug 22, 2019, 3:16 pm
  #6  
Original Poster
 
Join Date: Mar 2008
Location: Auckland
Programs: NZ*GE / EK*GOLD
Posts: 2,503
Originally Posted by samyoull
Maybe they could sink that dividend into hard product that's actually competitive...
Yeah i feel the refresh on Business Premier is 5 years too late
gratn and poopbunny like this.
Rebound is offline  
Old Aug 22, 2019, 3:26 pm
  #7  
 
Join Date: Nov 2018
Posts: 72
Originally Posted by WLGNZ
+1
Most of my international business class is on other carries now due to Mr Luxon's reluctance to invest in customer experience. 2.5 years ago I discussed this with him and he was aware of the issue. And has done nothing.
The same with the Auckland International lounge. He was aware of the issues. And has delivered......? Shameful for the airlines key hub.
The LH panorama lounge in FRA shows what can be done for a decent lounge experience.

I wonder if Mr Luxon was more focussed on delivering record breaking profits to give him a stable platform from which he can launch his political career
Chessboxin is offline  
Old Aug 22, 2019, 5:04 pm
  #8  
 
Join Date: Apr 2013
Location: New Zealand (most of the time)
Programs: Air NZ Elite *G, Honors Gold, IHG Platinum Elite
Posts: 5,999
Originally Posted by Rebound
Yeah i feel the refresh on Business Premier is 5 years too late
But it's coming over the next year. New BP seats in every plane*!

*seat may be the same as at present but with a fresh coat of paint
mad_atta and libertyuk like this.
sbiddle is offline  
Old Aug 23, 2019, 5:37 am
  #9  
 
Join Date: Jan 2011
Posts: 643
Originally Posted by sbiddle
But it's coming over the next year. New BP seats in every plane*!

*seat may be the same as at present but with a fresh coat of paint
Lipstick on a pig.
poopbunny is offline  
Old Aug 23, 2019, 6:05 am
  #10  
 
Join Date: Jan 2011
Posts: 643
Originally Posted by WLGNZ
+1
Most of my international business class is on other carries now due to Mr Luxon's reluctance to invest in customer experience.
Same here.

It was worth the SC forgone.
APD earn for flying is poor anyway.
poopbunny is offline  
Old Aug 23, 2019, 7:24 am
  #11  
 
Join Date: Dec 2006
Location: NZ
Programs: NZ Gold, BA Gold, QF Silver, IHG Platinum Elite Ambassador, Accor Diamond
Posts: 1,045
Originally Posted by poopbunny
Lipstick on a pig.
Bear in mind, NZ did this before (albeit the Ansett debacle did cost it), NZ still had recliners when QF, CX and SQ had angled-lie flat seats for some years and no at seat IFE screens in economy when it was becoming the norm on other carriers. Adopting the VS Upper Class hard product saw it leapfrog QF, SQ and CX for a while, but a little like BA with Club World, it got stale, and it is now. QF went SkyBed II and now have a variant of the Vantage XL which is excellent. SQ as usual evolves regularly.

As far as AKL international lounge is concerned, look at the competition. QF's international business lounges at SYD and MEL are similarly dire, no doubt in part because it knows it has the bulk of corporate international business traffic from Australia (although at least QF Golds get to use EK lounges, and Platinums have the generally excellent First lounges).
kiwifrequentflyer likes this.
libertyuk is offline  
Old Aug 23, 2019, 3:14 pm
  #12  
 
Join Date: Feb 2007
Programs: NZ Koru
Posts: 6,402
Originally Posted by sbiddle
But it's coming over the next year. New BP seats in every plane*!

*seat may be the same as at present but with a fresh coat of paint
They must be getting an pro at repaint the J seats by now, will that make it the third time the 77E J seats have received an fresh coat of paint....

Hopefully they will go for an colour pate that hide there now lack that f cleaning budget.
poopbunny and sbiddle like this.
cavemanzk is offline  
Old Sep 3, 2019, 6:14 am
  #13  
 
Join Date: Nov 2015
Location: BNE
Programs: NZ*G, QF Bronze, VA Red
Posts: 563
Also been asked (as shareholder) to vote on a proposal to purchase options on eight 787-10 widebody aircraft to replace ageing 777-200ER aircraft. Interestingly, they're opting for GEnx engines this time, not Trent/RR.
poopbunny likes this.
kyanar is offline  
Old Sep 4, 2019, 6:46 am
  #14  
Suspended
 
Join Date: Sep 2019
Programs: UA 1k AC 50k BA gold
Posts: 121
I just flew from ORD-AKL in J class and that seat is 10 years behind the times what a disappointment.
poopbunny likes this.
tshirt is offline  
Old Sep 4, 2019, 2:44 pm
  #15  
 
Join Date: Apr 2013
Location: New Zealand (most of the time)
Programs: Air NZ Elite *G, Honors Gold, IHG Platinum Elite
Posts: 5,999
Originally Posted by tshirt
I just flew from ORD-AKL in J class and that seat is 10 years behind the times what a disappointment.
Must make all the major airlines in this world who still don't offer direct aisle access and 2-2-2 config 20+ years behind the times then?

The NZ seat still offers one of the best sleeps on any business class seat on any airline. Period. If you disagree with that you're clearly in the minority because of all the failings of the seat it's still considered one of the most important aspects by the vast majority of customers in their research, and one of the reasons NZ have been so careful when it comes to moving away from the seat.
ps107, JayKiwi, SeaProf and 1 others like this.
sbiddle is offline  

Thread Tools
Search this Thread

Contact Us - Manage Preferences - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service -

This site is owned, operated, and maintained by MH Sub I, LLC dba Internet Brands. Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Designated trademarks are the property of their respective owners.