Air NZ announces profit of $374 million, maintains dividend
Aug 21, 2019, 4:03 pm
#1
Original Poster
Join Date: Mar 2008
Location: Auckland
Programs: NZ*GE / EK*GOLD
Posts: 2,510
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.
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.
Link at the bottom to Annual Results presentation
Aug 21, 2019, 8:14 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: 1,551
https://www.nzx.com/announcements/339567
Link at the bottom to Annual Results presentation
Link at the bottom to Annual Results presentation
Aug 21, 2019, 9:57 pm
#3
Original Poster
Join Date: Mar 2008
Location: Auckland
Programs: NZ*GE / EK*GOLD
Posts: 2,510
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.
Aug 22, 2019, 1:51 pm
#5
Join Date: Nov 2007
Location: BLQ / TRG
Programs: NZ*E, UA*1K, QF Plat
Posts: 1,071
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.
Aug 22, 2019, 2:16 pm
#6
Original Poster
Join Date: Mar 2008
Location: Auckland
Programs: NZ*GE / EK*GOLD
Posts: 2,510
Aug 22, 2019, 2:26 pm
#7
Join Date: Nov 2018
Posts: 73
+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.
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
Aug 22, 2019, 4:04 pm
#8
Join Date: Apr 2013
Location: New Zealand (most of the time)
Programs: Air NZ Elite *G, Honors Gold, IHG Platinum Elite
Posts: 6,118
Aug 23, 2019, 6:24 am
#11
Join Date: Dec 2006
Location: NZ
Programs: NZ Gold, BA Gold, QF Silver, IHG Platinum Elite Ambassador, Accor Diamond
Posts: 1,048
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).
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).
Aug 23, 2019, 2:14 pm
#12
Join Date: Feb 2007
Programs: NZ Koru
Posts: 6,414
Hopefully they will go for an colour pate that hide there now lack that f cleaning budget.
Sep 3, 2019, 5:14 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.
Sep 4, 2019, 1:44 pm
#15
Join Date: Apr 2013
Location: New Zealand (most of the time)
Programs: Air NZ Elite *G, Honors Gold, IHG Platinum Elite
Posts: 6,118
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.