Air New Zealand operating profit down 1% in FY2018

    Air New Zealand reported (23-Aug-2018) the following financial highlights for the 12 months ended 30-Jun-2018:

    • Operating revenue: NZD5485 million (USD3919 million), +7.4% year-on-year;
      • Passenger: NZD4679 million (USD3343 million), +6.9%;
      • Cargo: NZD370 million (USD264 million), +10.4%;
    • Operating costs: NZD4193 million (USD2996 million), +9.2%;
      • Labour: NZD1294 million (USD925 million), +2.6%;
      • Fuel: NZD987 million (USD705 million), +19.3%;
    • Operating profit**: NZD540 million (USD386 million), -0.9%;
    • Profit before tax: NZD540 million (USD385.8 million), +2.5%;
    • Net profit: NZD390 million (USD278.7 million), +2.1%;
    • Passengers: 17.0 million, +6.4%;
    • Passenger load factor: 82.8%, +0.2ppt;
    • Passenger revenue per ASK: NZD 10.6 cents (USD 7.6 cents), +1.8%;
    • Total assets: NZD7846 million (USD5606 million);
    • Bank and short term deposits: NZD1343 million (USD959.6 million);
    • Total liabilities: NZD5670 million (USD4051 million).

    *Based on the average conversion rate at NZD1 = USD0.714515
    **Includes depreciation and amortisation and rental and lease costs

    Meanwhile, CEO Christopher Luxon noted positive demand signals in the short term, with strong forward bookings heading into the peak summer season and passenger growth expected to continue its upward trajectory. According to Mr Luxon, the airline is expecting to grow by one million passengers p/a, reaching 19 million passengers by the end of 2020. [more – original PR]