Air New Zealand has reported a significant decline in earnings for the 2024 financial year, citing operational and economic challenges in the second half.
Earnings before taxation were $222 million, compared to $574m in the previous year.
The airline's net profit after taxation was $146m.
Air New Zealand said the reduction in domestic demand, particularly from corporate and government segments, was driven by a tougher economic backdrop in New Zealand.
The company also faced the impact of maintenance requirements for aircraft engines and increased competition from US carriers.
Despite these challenges, passenger revenue increased 11% to $5.9 billion.
Air New Zealand declared a final unimputed dividend of 1.5 cents per share.
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