AIR NEW ZEALAND, currently government controlled after a USD496m bailout 15 months back, has returned to profit in the second half of last year thanks to a stronger New Zealand dollar and lower fuel costs at the time. The carrier reported a half-yearly net profit of USD52.6m, up from a net loss of USD211m for the same period a year earlier. The previous 2001 half-year result had been hit by the collapse of Air New Zealand's Australian subsidiary, Ansett Australia. The airline says that its future remains dependent on regulators allowing Qantas Airways to buy a 22.5% in the airline. http://www.airnz.co.nz