Air New Zealand has announced earnings before taxation for the 2018 financial year of $540 million, an increase from the prior year result of $527 million, representing the second highest profit in the airline's history.
Net profit after taxation grew 2.1 percent to $390 million. Staff bonuses of up to $1800 will be paid to all permanent employees who do not participate in a short-term incentive programme. Chairman Tony Carter praised the strength of the result, which demonstrates the airline's resiliency. "This is an impressive financial result, driven by strong revenue growth across the airline's key markets, as well as continued focus on sustainable cost improvement, despite significantly higher fuel prices.'' About 8500 staff will be paid the bonus. The airline has battled with disruption to its network over the last year caused by the Marsden Point fuel pipeline rupture, severe storms affecting its domestic operation and international flights and some of its Dreamliners pulled from service at times for repairs. Rolls-Royce Trent Package C engines used by the airline on many of its Boeing 787s need more checks and in some cases lengthy repairs to turbine and compressor blades. Other aircraft have been used to fill in on routes as there are now limits on how far Dreamliners still subject to extra checks can fly from airports. Air New Zealand has used charter planes from Portugal's Hi Fly and a Boeing lease operation. A Bloomberg poll of five analysts forecast a pre-tax profit of between $543m and $571m with an average figure of $553m.
1 Comment
|
AuthorAlan Harding Archives
May 2024
Categories |