30-Aug-2012 9:55 AM

Air New Zealand expects to more than double earnings in 2013

Air New Zealand announced (30-Aug-2012) it is expecting to more than double its earnings in 2013. Air New Zealand chairman John Palmer said the airline is now well positioned to continue its growth trajectory which was pursued until 2008 when the world was affected by the global financial crisis. Mr Palmer said, “We view the future with optimism and are pursuing a clear strategy to strengthen our Australasian operations, while being ahead of target in restructuring our international long haul network to improve financial performance.” Mr Palmer expects the airline to deliver a more than 100% improvement in normalised earnings before taxation in FY2013. Air New Zealand CEO Rob Fyfe said the airline’s performance improvement programme is expected to result in improved profitability of NZD250 million (USD201.7 million) by 2015, NZD130 million (USD104.9 million) of which is expected to be achieved in FY2013. [more- original PR]

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