Air New Zealand has a profitable fiscal first half

Air New Zealand (Auckland) reported before taxes profit of NZ$112 million for the six month period ending on December 31, 2010, including an $18 million gain on equity swaps relating to the investment in Virgin Blue Airlines.

On December 21, 2010, the New Zealand government approved an alliance between Air New Zealand and Virgin Blue, which allows both carriers to expand operations between Australia and New Zealand with codeshares for trans-Tasman and connecting domestic flights, reciprocal access to lounges and frequent flyer programs.

On January 20, 2011, Air New Zealand announced it would take a shareholding stake of between 10% and 14.99% in Virgin Blue.

Copyright Photo: James Helbock. Please click on the photo for information on the introduction of the new Boeing 777-300 ER.

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About Bruce Drum

I have started the ultimate digital photo library of the fascinating world of airliners and airlines. The goal is to have the complete history of all airlines and the various aircraft operated. I have been photographing airplanes since 1965. Join us in this adventure.