AUGUST 26 2015 03:58h

Air New Zealand posts record profits, offers staff bonuses

Air New Zealand posts record profits, offers staff bonuses

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Wellington (dpa) – National carrier Air New Zealand reported record profit and income Wednesday, attributing the results to lower fuel prices, strong demand and cost efficiencies. 

The airline posted a net-profit increase of 24 per cent, to 327 million New Zealand dollars (212 million US dollars), for the financial year ending June 30.

The company also reported a 6-per-cent increase in operating revenue to 4.9 billion New Zealand dollars (3.18 billion US dollars).

“Our investment in new efficient aircraft, the continued development of our alliance partner relationships, world class sales and marketing execution, great customer service and strong focus on cost management have enabled Air New Zealand to achieve revenue growth against a stable cost base,” chairman Tony Carter said.

The result will see 8,000 airline employees who are not on other incentive programmes receive bonuses of up to 1,400 New Zealand dollars (907 US dollars) each.

The airline is looking to grow its market share in the Pacific Rim region, and is assessing potential new opportunities in Australia, Asia and the Americas, chief executive officer CEO Christopher Luxon said. Air New Zealand will launch new routes to Houston and Buenos Aires in December.