NZ Profit Jumps

Air New Zealand have announced a full year net profit of $182m (NZD) for the year ended June 30 2013.  This represents a jump of 156% on the previous year with a record operating cashflow of $750m (NZD)

The airline is paying a final dividend of 5 cents a share, taking its total dividend for the year to 8 cents a share - a 45 per cent jump from last year's shareholder payout. The profit lift was largely anticipated by analysts.
Chairman John Palmer said this morning's result placed Air New Zealand amongst the best performing airlines globally.
"We are focused on further improving on this result in the 2014 financial year. Based on the airline's forecast of market demand and fuel prices at current levels, early results and forward bookings are encouraging." he said.

The airline has also announced they will spend $1.8b on new aircraft over the next 3 years, made up of 9 additional Airbus A320 aircraft for their Domestic fleet renewal, 2 additional Boeing 777-319ERs and 9 new Boeing 787-9s for their international fleet.

Read more about the Air New Zealand profit from stuff.co.nz HERE or the New Zealand Herald HERE or check out the full Air New Zealand results presentation pdf HERE