Air New Zealand’s half year profit slumps to only $31.7 million

Air New Zealand Airbus A320-232 ZK-OAB (msn 4553) (All Blacks-Crazy About Rugby) AKL (Colin Hunter) (arrives in NZ), originally uploaded by Airliners Gallery.

Air New Zealand (Auckland) reported a disappointing 61 percent drop in its six month net profits ending on December 31, 2011. For the period, the carrier reported profits of only $38 million (NZD) or $31.7 million (US). As a result, the flag carrier has announced it will eliminate at least 441 positions to ward off any further deterioration of its finances due to rising fuel costs.

In other news, the carrier has converted two Boeing 787-9 Dreamliner options to firm orders (total now 10 on order).

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This entry was posted in Air New Zealand and tagged Air New Zealand on February 25, 2012 by Bruce Drum.

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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.

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