24-Feb-2012 10:11 AM
Air New Zealand reports sharp profit declines in 1HFY2012
Air New Zealand revenue up 3% - financial highlights for six months ended 31-Dec-2011:
- Operating revenue: USD1917 million, +2.5% year-on-year;
- Operating costs: USD1613 million, +5.1%;
- Fuel: USD507.1 million, +14.6%;
- Labour: USD446.9 million, +2.5%;
- EBITDAR: USD303.8 million, -9.7%;
- Profit before tax: USD45.2 million, -53.0%;
- Net profit: USD31.8 million, -61.2%;
- Passenger numbers: 6.8 million, -0.6%;
- Load factor: 82.8%, -1.4 ppt;
- Yield: USD 11.30 cents, +4.4%;
- Short-haul: USD 14.81 cents, +1.9%;
- Long-haul: USD 8.54 cents, +4.3%;
- Cost per ASK: USD 9.81 cents, +7.4%;
- Cost per ASK excl fuel: USD 6.63 cents, +2.2%;
- Total assets: USD4329 million, +5.5% when compared to period ended 30-Jun-2011;
- Bank and short term deposits: USD765.7 million, +6.4% when compared to period ended 30-Jun-2011;
- Total liabilities: USD2998 million, +5.4% when compared to period ended 30-Jun-2011. [more - Original PR] [more - CAPA Analysis]
*Based on the conversion rate at USD1 = NZD1.195
Air New Zealand has cited weak travel markets in Europe and Japan, escalating fuel prices and the under-performance of international networks for the erosion in its profit in the six months ended 31-Dec-2011.
Air New Zealand: "The trading environment remained uncertain and fuel prices have remained escalated. Given 2012 financial year performance to date and the global economic environment, achieving last year's results will be a challenge," company statement. Source: Air New Zealand, 24-Feb-2012.