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 11:44 2018 Sunday ,07 October
Dozens of settlers break into Al-Aqsa Mosque accompanied by Israeli security forces
GMT 13:39 2013 Sunday ,24 November
Chinese aircraft company opens first subsidiary overseas
GMT 08:59 2017 Saturday ,08 April
20 killed in Myanmar wedding boat crash
GMT 11:01 2017 Thursday ,09 November
Hassabo affirms state support to Jebel Barkal Festival
GMT 19:05 2017 Monday ,30 January
Reserve Bank lifts restrictions on withdrawals from ATMs
GMT 20:33 2017 Monday ,28 August
Kendrick Lamar gives fiery start to MTV awards
GMT 04:29 2017 Thursday ,09 November
UAEU student entrepreneurs aim to launch eco-friendly aromatherapy
GMT 11:39 2017 Thursday ,30 March
Renewables are the way forward for the UAE to cut emissions
GMT 11:57 2017 Friday ,17 February
Astana Talks on Syria Postponed Till Thursday
GMT 04:43 2017 Friday ,06 October
Ukraine says MH17 probe proves Russia's 'direct involvement'
GMT 16:09 2016 Tuesday ,12 April
Kuwait's PIC Announces new PDH&PP project in Alberta, Canada, to produce 800,000 tonnes per year of Polypropylene
GMT 11:27 2017 Monday ,27 February
China pledges to speed up approval of stock listings
GMT 07:23 2017 Tuesday ,14 March
British PM free to trigger Brexit after bill clears both Houses of Parliament
GMT 06:52 2017 Thursday ,20 July
Dubai crown prince takes snap at Italian attraction
GMT 23:49 2017 Friday ,07 April
First on Martian menu will be Unique potato
GMT 22:22 2017 Friday ,10 November
Japan’s economy set to show 7 straight growth quarters
GMT 21:04 2017 Sunday ,18 June
Egyptian court recommends death penalty for 31 in prosecutor assassination case
GMT 21:43 2017 Friday ,11 August
Kuwait backs Saudi anti-terror measures
GMT 17:20 2017 Sunday ,12 February
Flood, landslide in central Indonesia injure 8, force some 5,000 to flee home
GMT 12:33 2018 Tuesday ,27 November
Egypt's imports of poultry, sugar drop over past 10 months
GMT 13:56 2018 Tuesday ,23 October
Over 170 ceasefire violations by Ukrainian troops reported
GMT 13:56 2018 Friday ,12 October
Fawad grieved over demise of Justice Javed Nawaz Gandapur
GMT 12:47 2017 Tuesday ,28 March
International Humanitarian Action Conference Kicks Off in Doha
GMT 07:50 2014 Wednesday ,08 January
Philippines\' Cebu Pacific enters into strategic alliance with Tigerair
GMT 02:00 2015 Saturday ,13 June
Leftist Ada Colau to become Barcelona's mayor after parties' deal
GMT 02:44 2018 Friday ,19 January
Human Rights Watch hails resistance to Trump-style populism
GMT 02:20 2018 Wednesday ,10 January
Federer eyes fresh 'fairytale' as Slam rivals struggle
GMT 08:20 2016 Thursday ,01 September
Iran to build 2 nuclear plants with Russia
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