Air NZ FY2009 revenue down 1.2%, worst EBITDAR since 1999

Air New Zealand revenue down 1.2% - financial highlights for the 12 months ended 30-Jun-2009:

• Revenue: USD3,139 million, -1.2% year-on-year;
• Operational costs: USD2,667 million, +5.4%;
  • Fuel: USD1,148 million, +50.4%;
  • Labour: USD693.2 million, +5.5%;
• Operating profit: USD468.0 million, -27.3%;
• Profit before tax: USD4.8 million, -97.7%;
• Net profit: USD14.3 million, -90.4%;
• Passenger numbers: 12.4 million, -6.1%;
  • Short-haul: 10.6 million, -5.5%;
  • Long-haul: 1.8 million, -9.8%;
• Passenger load factor: 79.0%, -0.3 ppt;
  • Short-haul: 75.4%, -1.5 ppt;
  • Long-haul: 81.6%, +0.6 ppt;
• Yield: USD 9.4 cents, +6.2%;
  • Short-haul: USD 12.7 cents, +0.5%;
  • Long-haul: USD 7.2 cents, +12.1%. [more] [more - Perspective]
• *Based on the conversion rate at USD1 = NZD1.47

Air New Zealand: "The current operating environment is likely to remain turbulent, a fact supported by the International Air Transport Association's (IATA) prediction that global airline losses will total USD9 billion in the 2009 calendar year. These losses are underpinned by weakened demand and significant global over capacity. The Australasian market is not immune from this and until supply is aligned with demand the airline sector will not achieve a satisfactory commercial performance. While demand is stabilising, yields remain under significant pressure, fuel prices have resumed an upward trend and we are unlikely to achieve the same level of net hedging gains. The same agility displayed in the 2009 financial year will be imperative throughout the next year," Company statement. Source: Air New Zealand, 27-Aug-2009.