Air NZ rides the tourism boom with record full-year earnings

Thu, 25 Aug 2016

By Fiona Rotherham Aug. 26 (BusinessDesk) - Air New Zealand has ridden the tourism boom and staved off increased competition to deliver the best full-year earnings in its 76-year history. Earnings before other significant items and tax was up 70 percent to $806 million in the 12 months ended June 30 while pre-tax profit of $663 million increased 40 percent, the Auckland-based company said in a statement. Significant items of $143 million included a $83 million writedown on the carrying value of its shareholding in Virgin Australia aft...

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