Air NZ FY profit more than doubles, beating estimates

Wed, 28 Aug 2013

By Jonathan Underhill Aug. 29 (BusinessDesk) – Air New Zealand, which is preparing to spend $1.8 billion on aircraft in the next three years, more than doubled annual profit, beating estimates, as it squeezed more revenue from a rising volume of passengers and benefited from favourable foreign exchange movements. Net profit rose to $182 million in the 12 months ended June 30, from $71 million a year earlier, the Auckland-based company said in a statement. Sales rose 3 percent to $4.6 billion. First NZ Capital had forecast profit of $168.3 mil...

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