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Air New Zealand doubles net profitability but warns of tougher second half conditions

Analysis

Air New Zealand reported a more than doubling of net profit in the six months to 31-Dec-2009, as the carrier reduced costs in response to declining passenger demand and yields. However, the carrier has warned of a weaker, yet profitable, result in the second half, echoing comments made earlier this week by Virgin Blue and last week by Qantas.

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