Air New Zealand posted a record first-half net profit Thursday and predicted its full-year result will also scale new highs as the world economy picks up.
The flag carrier said net profit for the six months to December 31 was NZ$140 million ($116 million), up 40 per cent on the same period a year earlier.
Chief executive Christopher Luxon said the airline was reaping the benefits of cost cutting in recent years, including shedding about 700 jobs, which had increased its flexibility when dealing with a changing global environment.
"The journey ahead is shaping up as incredibly exciting, particularly given the positive economic outlook in many of our key revenue markets," he said.
"We are well placed to take advantage of this."
Normalised earnings before tax were up 29 per cent at NZ$180 million over the six-month period, and Air New Zealand said they were expected to hit a new record of NZ$300 million-plus for the full year.
Revenue slipped two percent to NZ$2.33 billion, with the company announcing an interim dividend of 4.5 cents a share, up 50 per cent on the same period a year earlier.
Air New Zealand shares were up 1.71 per cent in early trading on the New Zealand stock exchange, where the overall market was down 0.15 per cent.
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