Air New Zealand reports $382 million net profit

Published on : Saturday, August 26, 2017

 

airAir New Zealand yields second highest result in the airline’s history by announcing earnings before taxation of $527 million for the year 2017 as compared to $663 million last year.

 

The net profit after taxation was $382 million.

 

The strong results were appreciated by the Chairman Tony Carter, he acknowledge the airline’s staff for the continued focus that brought profitable network growth during a competitive period.

There was an increase of ten per cent in the shares compared to the previous year, a fully imputed dividend of 11 cents per share was declared.

 

This brought the full year declared ordinary dividends to 21 cents per share.

 

Carter mentioned that the airline’s strong financial position and future capital commitments and improving trading environment made the board feel appropriate to increase the dividend.

 

The investors will receive the final dividend on September 18.

 

Chief executive at Air New Zealand, Christopher Luxon appreciated the airline’s staff for their outstanding contribution for making 2017 a productive year.

 

Despite the airlines faced unprecedented increase in the level of competition from some of the world’s largest airlines but it effectively rose to the challenge.

 

The team achieved commercial, customer and cultural excellence and delivered the second highest profit ever.

 

In the coming year Air New Zealand is expected to grow its comprehensive domestic network. There are new opportunities from inbound and domestic tourism.

 

The airline has built a strategy of entering key markets with the help of revenue-sharing alliance partners and strong market development plans.

 

2018 will see Air New Zealand expanding in Japan with the addition of Haneda with increased services during the peak season through the Pacific Islands and North and South America.

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