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Air New Zealand year profit doubles
29 Aug 2007
Thanks to a large increase in the number of passengers and lower costs, national carrier Air New Zealand has reported that its full-year profit more than doubled and said that further profit was likely.
The airline posted a tax profit of £75m for the year to 30 June, up from £34m last year. The carrier said it was projecting a profit of £93m over the next year.
Air New Zealand also revealed plans to further cut fares, instead of introducing a low-cost carrier to combat growing competition in the country's air travel market.
Chief executive Rob Fyfe explained that the airline would split its fleet of Boeing 737s into two classes, including a budget service, as well as ensuring that it offered the cheapest fairs on the main routes.
Earlier this month, the airline announced that it would buy four new Boeing 777-300 aircraft as it goes about modifying its fleet, in order to start new international routes to Asia.
Opodo searches thousands of flights from over 500 airlines to find the best flight deals for travellers. Find flights.
© Adfero Ltd
The airline posted a tax profit of £75m for the year to 30 June, up from £34m last year. The carrier said it was projecting a profit of £93m over the next year.
Air New Zealand also revealed plans to further cut fares, instead of introducing a low-cost carrier to combat growing competition in the country's air travel market.
Chief executive Rob Fyfe explained that the airline would split its fleet of Boeing 737s into two classes, including a budget service, as well as ensuring that it offered the cheapest fairs on the main routes.
Earlier this month, the airline announced that it would buy four new Boeing 777-300 aircraft as it goes about modifying its fleet, in order to start new international routes to Asia.
Opodo searches thousands of flights from over 500 airlines to find the best flight deals for travellers. Find flights.
© Adfero Ltd
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