Airways FY profit jumps 54% as NZ aviation booms

Pattrick Smellie
Mon, 29 Aug 2016

By Pattrick Smellie Aug. 30 (BusinessDesk) - Airways New Zealand, the state-owned air traffic controller, posted a 54 percent increase in annual profit and more than doubled its dividend to the Crown as it benefits from increased flights. The Wellington-based company reported net profit of $23.2 million in the year to June 30, ahead of its budgeted $16.5 million profit. It will pay a $9 million dividend to the Crown, up from $4 million the previous year. "Airways’ positive financial result was supported by an 8 percent increase in flig...

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