September 2022, Virtual
September 29 2022, Virtual
Now in its 27th year, the Business Travel Awards
Air New Zealand has more than doubled its profits for the last financial year as the airline looks for increased growth.
The Star Alliance member made a pre-tax profit of NZ $256 million (£128 million) for the year to the end of June – up by 172 per cent on the previous year’s profit of NZ $94 million (£47 million).
CEO Christopher Luxon said that the airline’s international long-haul network was now profitable and “positioned for growth”.
This was the company’s highest profit for five years and Air New Zealand chairman John Palmer said the results put it “among the best-performing airlines globally”.
“Strong results allow Air New Zealand to reinvest in its products, services, training and development to further enhance the customer experience and to connect more people and businesses than ever to, from and within New Zealand,” added Palmer.
Air New Zealand has committed to spending NZ $1.8 billion (£900 million) on 21 new aircraft over the next three years including six Boeing 787 Dreamliners – the first of which is due to enter service in mid-2014.
“There can be no greater vote of confidence in the growth potential of the airline, and of the attractiveness of New Zealand as an international destination, than expanding and upgrading our fleet,” said Palmer.
“Alongside this we continue to actively pursue new alliance partnerships and destinations to grow our traffic.”