Air New Zealand reports USD233m operating profit in H1FY2018, on track for second highest profit

    Air New Zealand reported (22-Feb-2018) the following financial highlights for six months ended 31-Dec-2017:

    • Operating revenue: NZD2729 million (USD1947 million), +5.6%;
      • Passengers: NZD2337 million (USD1668 million), +5.5%;
      • Cargo: NZD189 million (USD135 million), +10.5%;
      • Contract services: NZD83 million (USD59 million), +3.8%;
    • Total costs^: NZD2402 million (USD1714 million), +6.9%;
      • Labour: NZD635 million (USD453 million), +1.9%;
      • Fuel: NZD470 million (USD335 million), +20.5%;
    • Profit before finance costs, associates and other significant items and taxation: NZD327 million (USD233 million), -3.3%;
    • Net profit: NZD232 million (USD166 million), -9.4%;
    • Passengers: 8.5 million, +5.5%;
      • Domestic: 5.6 million, +6.9%;
      • Tasman and Pacific Islands: 1.9 million, +4.6%;
      • International: 1.0 million, +0.2%;
    • Passenger load factor: 82.5%, -0.6ppt;
      • Domestic: 81.7%, +1.9ppt;
      • Tasman and Pacific Islands: 82.2%, +0.7ppt;
      • International: 83.0%, -1.9ppt;
    • Passenger revenue per ASK: NZD 10.6 cents (USD 7.6 cents), +2.0%;
      • Domestic: NZD 21.6 cents (USD 15.4 cents), +4.4%;
      • Tasman and Pacific Islands: NZD 10.0 cents (USD 7.1 cents), +6.1%;
      • International: NZD 7.7 cents (USD 5.5 cents), -3.3%;
    • Total assets: NZD7602 million (USD5425 million);
    • Bank and short term deposits: NZD1340 million (USD956 million);
    • Total liabilities: NZD5479 million (USD3910 million). [more – original PR]

    *Based on the average conversion rate at NZD1 = USD0.713592
    ^Includes depreciation and amortisation and rental and lease costs