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

Rebecca Howard
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...

Use the information you’ve already given Google to create your subscription.

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Markets
MARKET OPEN: Kiwi slumps as traders lose their nerve
Paul McBeth | Tue, 22 Sep 2020

The New Zealand dollar dropped more than 1 US cent as traders dumped risk-sensitive assets amid renewed fears about the economic impact of the covid-19 pandemic.The kiwi dropped to 66.66 US cents at 8am in Wellington from 67.71 cents at 5pm yesterday, joining an extended selloff...

Economy
Entitled or unethical? Big business and the wage subsidy
Rebecca Stevenson | Tue, 22 Sep 2020

Should a profitable company pay back the wage subsidy?

Listed Companies
DAN BRUNSKILL: Serko has nothing but time
Dan Brunskill | Tue, 22 Sep 2020

How does a travel software firm crack the top 50 stocks when international borders are closed?

Partner Content
The whole story behind good investment decisions

If there was ever a time when strong financial metrics were the single trademark of a good company, that time has long passed. Responsible investors need to know beyond the profit a company will generate this year or next.

Sponsored
Canon Business: Premium solutions for Commercial Bay

Precinct Properties is the largest owner and developer of premium inner-city business space in Auckland and Wellington, its latest flagship success is the transformational Commercial Bay on Auckland's waterfront. Canon knew that for such a high-calibre client, only a premium bespoke purpose-built solution would suffice when it came to providing market-leading print, mail and courier services to over 10,000 tenants in the development.