After reporting a 12 percent drop to a net profit after tax of $71 million for the financial year 2012, Air New Zealand is looking to the future to double its earnings for 2013.
Air New Zealand chairman John Palmer remains positive for future growth, saying the airline was now well positioned to continue the growth trajectory that was halted in 2008 by the global financial crisis.
We have come through some tough times and the worst impacts of natural disasters like the Christchurch earthquake and tsunami in Japan are behind us, which means growth opportunities are no longer suppressed, Mr Palmer announced.
The airlines current forecast is promising, expecting to deliver more than 100 percent improvement for the 2013 financial year.
The chairman said the future of the airline is optimistic and focused on a strategy to strengthen Australasian operations and the restructure of its international long-haul network.
Air New Zealand chief executive officer Rob Fyfe says the airline is far from achieving its potential, despite delivering the most consistent and best relative financial performance of any Australasian airline over the past three years.
Air New Zealand has built a solid foundation over the past three years to further strengthen its competitive position and comparative financial performance, Mr Fyfe stated.
He also commended the airlines staff for how they worked together against a tough economic backdrop to ensure the airline is well positioned for growth.
Domestically, Air New Zealand has expanded its network, grown the fleet and improved overall productivity.
Strengthening the airlines Australasian position in a move to develop a closer and more effective relationship with Virgin Australia is now well advanced, according to Mr Fyfe.
The trans-Tasman alliance is exceeding our projections and delivering our customers, and those of Virgin Australia, access to the largest airline network in Australasia with connections into 62 towns and cities, Mr Fyfe said of the successful alliance.
Investing $1 billion in fuel efficient aircraft, Air New Zealands international long haul network has seen a significant improvement in financial performance, which is expected to contribute positively to Group profitability in the 2013 financial year.
Source = e-Travel Blackboard: K.W