Air New Zealand posts 24% decline in 1H profit as competition mounts

Wed, 22 Feb 2017

(Updates to add detail throughout, broker comment, corrects operating revenue figure in 3rd paragraph) By Rebecca Howard Feb. 23 (BusinessDesk) - Air New Zealand posted a 24 percent fall in first-half pretax profit in the face of increasing competition both at home and abroad but fared better than analysts expected. Pretax earnings fell to $349 million in the six months ended Dec. 31 from $457 million in the same period a year earlier, the Auckland-based company said in a statement. Net profit in the first half fell 24 percent to...

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