Competition headwinds hit Air New Zealand profit
Air New Zealand said it was "optimistic about the overall market dynamics"
Wellington - AFP
Air New Zealand posted a 17.5 percent fall in annual net profit Wednesday as increased competition hit the carrier's bottom line.
The airline said net profit for the 12 months to June 30 was NZ$382 million ($278 million), down from a record NZ$463 million in the previous financial year.
Air New Zealand said it was still the second-highest figure ever recorded by the airline, describing it as a "strong" result.
"This year Air New Zealand faced an unprecedented increase in the level of competition from some of the world's largest airlines and effectively rose to the challenge," chief executive Chris Luxon said.
"The impressive way our team responded to the new competition while at the same time achieving commercial, customer and cultural excellence, helped to deliver our second highest profit ever."
Pre-tax earnings also dipped 20.5 percent to NZ$527 and operating revenue was off 2.3 percent at NZ$4.4 billion.
The company said it was "optimistic about the overall market dynamics" and aimed to improve its earnings in the current financial year.
- Thursday ,13 December GMT 22:53 2018 Indian Minister of Trade meets with UAE Ambassador, Chairman of Emaar Properties
- Thursday ,06 December GMT 13:41 2018 Tyre maker Continental opens lab to extract rubber from dandelions
- Friday ,30 November GMT 15:22 2018 Paper industry around famous Chinese lake to be shut down by 2019
GMT 22:53 2018 Thursday ,13 December
Indian Minister of Trade meets with UAE Ambassador, Chairman of Emaar PropertiesGMT 13:41 2018 Thursday ,06 December
Tyre maker Continental opens lab to extract rubber from dandelionsGMT 15:22 2018 Friday ,30 November
Paper industry around famous Chinese lake to be shut down by 2019GMT 11:13 2018 Sunday ,18 November
Electricx 2018 kicks off with participation of over 20 countriesGMT 14:17 2018 Thursday ,25 October
BP eyes entering several new Rosneft projectsGMT 12:08 2018 Saturday ,20 October
OPEC participants performed Vienna Agreement by 111%GMT 16:14 2018 Saturday ,06 October
Saudi Aramco IPO to go ahead by early 2021GMT 19:01 2018 Thursday ,04 October
LEAD S. Korean firms offer aid for quake-hit Indonesia
Economic conference on investment opportunities in Syria kicks off
Bucharest - SANA
With the participation of 120 representatives of Romanian companies, Chambers of Commerce and industry, An economic conference on “Reconstruction in Syria between the development of economic steadfastness and the opportunities ofRussia tests new telemetry system during manned Soyuz MS-11 spacecraft’s launch
Moscow - TASS
The Astra-06 apparatus developed by specialists of Russian Space Systems (RSS) was used for the first time as additional telemetric equipment aboard the manned Soyuz MS-11 spacecraft launched from the Baikonur CosmodromeLiverpool, Manchester City seek neighbours' help in title chase
London - DPA
Liverpool and Manchester City will be looking for a little help from their not-so-friendly neighbours this weekend. The Premier League front-runners face each other's local rivals when City host Everton and Liverpool take on Manchester United. Liverpool jumped above City at theBlue light in smartphones linked to blindness and some cancers
Spain - DPA
Ever since we have started to become chained to our smartphones and tablets, people have been saying that the waves coming off these devices must be bad for us. So often laughed off as conspiracy theorists, it now looks more and moreFestive Fashion by Dubai-based designer ASMARAÏA
Dubai - Arab Today
Dubai-based label ASMARAÏA just launched its pre-fall 2019 collection — and it’s all about cruelty-free, sustainable fashion with a festive edge. Checkmate The 15-piece collection features this checkered skirt-and-jacket ensemble that is giving us major “Clueless” vibes. Gold Rush ‘Tis the season to sparkle and this dazzling, floor-length gold skirt will do the trick. Take note of the chic black bow detail at the waist — it’s the ultimate party look. Feathered fashion The brand works with environmentally-friendly materials such as organic cotton, recycled polyester and faux fur, so you can be sure this feathered look doesn’t come at the cost of an animal’s life. Jewel Tones If you want to glisten like a polished jewel at your next festive function, this emerald-colored skirt is the perfect choice with its sequin details and shimmery overlay. Golden Girl Leopard print
GMT 08:16 2017 Sunday ,24 December
Hamsik eclipses Maradona to put Napoli top for Christmas
GMT 11:28 2016 Sunday ,04 December
OPEC deal ‘creating incentives for US shale output boost’
GMT 10:07 2017 Monday ,12 June
OPEC daily basket price for Friday, 9th June, 2017
GMT 08:12 2017 Tuesday ,28 November
Government launches a campaign to eliminate corruption
GMT 18:43 2018 Thursday ,20 September
Russian PM does not rule out expansion of trade wars
GMT 09:28 2017 Saturday ,30 December
Ski jumping: 40,000 to see Four Hills take leap of faith
GMT 19:31 2017 Sunday ,16 April
Iran to export gas to Iraq
GMT 03:14 2017 Monday ,17 April
Kazakhstan Ambassador hails ties with Oman
GMT 04:00 2017 Thursday ,18 May
Saudi FM inaugurates independent human rights commission HQ
GMT 10:21 2017 Tuesday ,25 April
Germany pleased with results of first-round French presidential poll
GMT 21:20 2017 Sunday ,24 September
Admission for Egyptian-Japanese schools to start Tuesday
GMT 21:31 2017 Wednesday ,15 February
Toshiba puts prized chips unit up for sale to salvage business
GMT 20:57 2017 Wednesday ,20 September
Dubai Customs launches Partners’ Happiness Lab
GMT 18:32 2017 Monday ,30 October
CBE governor directs banks to expand funding
GMT 14:58 2017 Sunday ,19 February
Dhoni removed as Pune captain, Smith to take over
GMT 14:35 2017 Thursday ,19 January
Naidu comes to the defence of 'Dangal' actress Zaira
GMT 18:06 2016 Tuesday ,06 December
HHA launches Geely X7 Sport 4WD in Saudi market
GMT 12:41 2017 Saturday ,27 May
Dhafer L’Abidine makes sure to be part of Ramadan season
GMT 05:42 2017 Saturday ,01 April
Toshiba soars on reports of memory chip unit bid
GMT 11:19 2017 Friday ,17 March
Champions League rivals running scared of Leicester City
GMT 11:26 2018 Monday ,26 November
Mexico to send back migrants who tried to force their way to border
GMT 16:00 2018 Tuesday ,30 October
Five killed in Daesh attack in central Libya
GMT 17:16 2018 Wednesday ,10 October
Charges against Russian national footballers Kokorin, Mamaev
GMT 19:49 2015 Tuesday ,03 November
15 freezing migrants saved from refrigerated truck in France
GMT 10:21 2018 Tuesday ,16 January
Sustainable development at heart of ESCWA secretary, Boukhary meeting
GMT 01:37 2018 Tuesday ,16 January
Education Minister congratulates Bahrain Bayan School
GMT 13:01 2015 Sunday ,23 August
New Suez Canal Project achievement for all Arabs
GMT 02:39 2018 Friday ,12 January
Government, People's Movement affirm readiness for negotiation in February
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor