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25-Feb-2016 10:10 AM

Air New Zealand operating profit almost doubles in 1HFY2016

Air New Zealand revenue up 12% - financial highlights for six months ended 31-Dec-2015:

  • Operating revenue: NZD2698 million (USD1779 million), +12.3% year-on-year;
    • Passenger: NZD2308 million (USD1521 million), +15.8%;
    • Cargo: NZD187 million (USD123.3 million), +20.6%;
  • Operating costs**: NZD1887 million (USD1244 million), +1.1%;
    • Labour: NZD619 million (USD408 million), +6.4%;
    • Fuel: NZD484 million (USD319.1 million), -14.9%;
  • Profit before finance costs, associates and taxation: NZD459 million (USD302.6 million), +95.3%;
  • Net profit: NZD338 million (USD222.8 million), +154%;
  • Passenger numbers: 7.8 million, +10.1%;
    • Short-haul: 6.8 million, +8.1%;
    • Long-haul: 966,000, +26.4%;
  • Passenger load factor: 84.4%, +0.5 ppt;
    • Short-haul: 82.4%, stable;
    • Long-haul: 86.15, +0.7 ppt;
  • Yield: NZD 13.7 cents (USD 9.0 cents), -1.1%;
    • Short-haul: NZD 17.3 cents (USD 11.4 cents), -0.5%;
    • Long-haul: NZD 10.8 cents (USD 7.1 cents), +2.0%;
  • Total assets: NZD7183 million (USD4735 million);
  • Bank and short-term deposits: NZD1400 million (USD922.9 million);
  • Total liabilities: NZD5112 million (USD3370 million). [more - original PR]

*Based on the average conversion rate at NZD1 = USD0.6592
**Excludes depreciation and amortization, and rental and lease expenses

Air New Zealand: "The airline's strategic focus for the second hald of the year continues to be profitable growth of the network, with total capacity expected to increase approximately 7% for the second hald of the financial year, driven by growth in the domestic, American and Asian markets…based upon current market conditions and assuming current fuel prices and foreign exchange rates, the airline is targeting earnings before taxation for the full year 2016 to exceed $800 million. This outlook excludes equity earnings from the Virgin Australia shareholding." Source: Company statement, 25-Feb-2016.

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