Air New Zealand's long-haul operations have returned to profitability after years of losses since the 2007 global financial crisis.
"A key driver in achieving this turnaround has been getting our network right and improving our sales execution," says its chief executive Christopher Luxon.
In a presentation to analysts, the carrier adds that the impact of replacing its Boeing 747s with Boeing 777-300ERs has been felt, and that the redeployment of aircraft has improved its long-haul efficiency and competitiveness.
Last year, Air New Zealand suspended its Auckland-Beijing service and started its alliance with Cathay Pacific on services between Hong Kong and New Zealand. Next month, it will suspend services on the Hong Kong-London route.
The carrier also saw increased demand on its domestic routes, despite a slower than expected economic recovery, says Luxon.
The Star Alliance carrier posted a net profit of NZ$100 million ($83.2 million) for first half of the fiscal year 2013, more than double the NZ$38 million a year ago.
"This is the best interim profit result for five years. The substantial change programme the airline has been implementing has positioned the business for consistent growth and sustainable profitability over the coming years," says its chairman John Palmer.
Going forward, Palmer expects the carrier's normalised earnings before tax for the second half of 2013 to "comfortably exceed" the corresponding period, based on its current forecast of market demand and fuel prices.
Air New Zealand will be leasing two 777-300ER aircraft and they will join its fleet in 2014.
The carrier operates a fleet of 49 aircraft including Airbus A320s, 777s and Boeing 737s. It also has 10 A320s and 10 Boeing 787s on order.