Air NZ delivers bumper $327 mln profit on strong demand, lower fuel prices

Tue, 25 Aug 2015

By Fiona Rotherham Aug. 26 (BusinessDesk) - Air New Zealand, the national carrier, boosted annual profit 24 percent on strong demand, cost efficiencies and lower fuel prices, though underlying earnings missed the airline's guidance. Net profit rose to $327 million in the 12 months ending June 30, from $263 million a year earlier, the Auckland-based company said in a statement. That included a $29 million loss on Air New Zealand's stake in Virgin Australia. Underlying earnings before taxation were a record $496 million, up 49 percent...

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