Air New Zealand's 1H earnings tumble as rising fuel and waning tourism crimp returns

Wed, 27 Feb 2019

By Rebecca Howard Feb. 28 (BusinessDesk) - Air New Zealand reported a 35 percent fall in pre-tax earnings in the first half as a spike in fuel prices, softer tourism and disruptions due to issues with the Rolls-Royce engines took their toll. The national carrier reported earnings before taxation of $211 million in the six months through December versus $323 million in the prior year and a net profit of $152 million versus $232 million in the prior year. Operating revenue was $2.9 billion, up 7.1 percent. Passenger revenue increased by...

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