Air New Zealand forecasts that its net profit for its fiscal first half ending 31 December will be approximately 20% better than the same period last year.
“The company has made good progress year to date and remains on target to exceed last year's earnings for the full year,” the carrier said in a statement on the New Zealand Stock Exchange.
“With sufficient confidence in the expected outcome of the important December month, together with the greater certainty around the costs for voluntary redundancy from recent labour contract settlements, the company expects Earnings Before Taxation for the six months to 31 December 2013 [including redundancy costs estimated at $10 million] to exceed the previous corresponding period by approximately 20 percent,” it adds.
In the first six months of its previous financial year, the carrier posted a net profit of New Zealand dollars (NZ$) 100 million ($83 million), which was more than double the result for the six months ended 31 December 2011.
In its fiscal year ending 30 June 2013, the carrier’s profit more than doubled to NZ$182 million compared with a year ago.
Next year promises to be an important one for the Star Alliance airline, as it will be the first carrier to operate the Boeing 787-9 aircraft in October 2014.