Air NZ shares jump 5.6 percent as airline flags annual earnings to more than double

Tue, 23 Apr 2013

By Paul McBeth April 24 (BusinessDesk) - Air New Zealand's shares jumped 5.6 percent after the national carrier flagged its annual earnings will more than double this year. The Auckland-based airline expects normalised annual pre-tax earnings, which strips outs unrealised movements in derivatives used to hedge its exposures, to be between $235 million and $260 million in the 12 months ended June 30. That compares to the $91 million it posted in 2012, meaning earnings are set to gain by between 158 percent and 186 percent. Air NZ said the f...

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