FIRST CUT: Air NZ posts 7.4% decline in 1H pretax profit as fuel prices bite

Wed, 21 Feb 2018

By Rebecca Howard Feb. 22 (BusinessDesk) - Air New Zealand posted a 7.4 percent fall in first-half pretax profit as rising fuel prices offset record high passenger revenue. Pretax earnings fell to $323 million in the six months ended Dec. 31 from $349 million in the same period a year earlier, the Auckland-based company said in a statement. The prior period also included a $22 million gain related to the divestment of Virgin Australia, it said. Net profit in the first half fell 9.4 percent to $232 million or 20.7 cents per share versu...

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