Air New Zealand reports second highest profit during year ending June

By Galia Ilan

The national carrier, Air New Zealand, announced its results for the financial year ending June, revealing that its pre-tax earnings hit $540mn from $527mn recorded in the previous year.

The figure also marked the firm’s second largest amount it’s ever achieved for profit.

The company’s net profit after taxation increased by 2.1% in the review period, reaching $390mn.

“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,” stated Tony Carter, Chairman of Air New Zealand.

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“The ability of the airline to achieve its second highest profit in such a challenging environment really speaks to the focused strategy and unique competitive advantages that Chief Executive Officer Christopher Luxon and his leadership team have spent years building.”

The firm revealed plans to invest up to $150mn over the next four years in order to improve customer experience.

“While we are very proud of the financial achievements of the 2018 financial year, I want to acknowledge the patience and loyalty of our customers who have been impacted by operational disruptions while travelling with us this year,” commented Christopher Luxon, CEO of Air New Zealand.

“These disruptions have resulted in a level of service for some that did not meet the high standards we set for ourselves.”

“We do not take our customers' choice to fly with Air New Zealand for granted and remain focused on making improvements across all touch points of their travel journey.”

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