Australasia's three major carriers all enjoyed improved profitability in the last six months of 1998, despite the ravages of the Asian economic downturn. Qantas' net profits rose 34%, to A$221.1 million ($143 million), while Air New Zealand's net figure was up 1%, to NZ$82.8 million ($46 million) and that of its Australian subsidiary Ansett by 48%, to A$61.6 million ($40 million). All say cost-cutting and a better operating environment helped.
Source: Flight International