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Air New Zealand’s pre-tax loss widened to NZ$725 million ($450 million) in its fiscal year 2022, to an initial loss of NZ$444 million a year earlier, and the airline attributed the weakness to past restrictions similar to the coronavirus pandemic and superior fuel. prices.
Revenue for the 12 months ended June 30 rose 9% to NZ$2. 7 billion, according to the airline’s monetary results.
Net losses for the year doubled to NZ$591 million.
“Although the fiscal year ended strongly after New Zealand’s borders gradually reopened from March, the airline’s $2. 7 billion operating profit was particularly affected by pandemic-related restrictions,” air NZ said.
“Domestic and cargo flight revenue helped increase overall revenue by 9%, but high fuel costs and reduced flights for much of the year resulted in a loss for the period. “
In 2022, Air NZ’s passenger revenue remained solid at NZ$1500 million, while shipping revenue increased by 32% to NZ$1 billion.
The result of smart shipping largely mirrors air shipping systems instituted through the governments of Australia and New Zealand, which contributed $403 million, or just a portion of freight profits. Air NZ expects shipping earnings to “moderate” as the recovery from the pandemic continues. . In addition, Australia’s cargo program has been terminated and New Zealand’s program is being phased out.
During the year, RASK fell by 2. 8% while CASK fell by 1%. Passenger yields fell by 16. 9% during the year. Total DOE increased by 15% and RPK increased by 21%.
General charging points increased by 9. 8 problems to 67. 1%. While domestic charging points fell 7. 3 problems to 70. 1%, foreign charging points increased 29 problems to 65. 5%.
In 2022, Air NZ carried 6. 8 million domestic passengers, down 16. 5% from last year. However, with New Zealand’s reopening to commuters, passengers doubled to 909,000.
“As we’ve noticed overseas, demand is much stronger than expected,” says CEO Greg Foran.
However, he points out that the labor market is tight, which has led to disruptions for passengers.
Given fuel price uncertainty, the threat of a global recession and inflationary pressures, Air NZ provided guidance on earnings for fiscal 2023.
Still, it’s a positive note, noting that 2023 will constitute the first full fiscal year of uninterrupted passenger flights since the pandemic hit the industry in early 2020.
“Total flight capacity for fiscal year 2023 is expected to be between 75% and 80% of pre-COVID-19 levels,” he said. “On this basis, the airline anticipates a significant improvement in its monetary functionality for fiscal year 2022. “
Air NZ adds that it is in the process of reactivating its fleet of 777-300ERs. Three are being reactivated and he expects all seven to be back in service until the end of his fiscal year 2023.
Air New Zealand is seeing a recovery in passenger bookings, either locally and around the world, following the removal of restrictions similar to the coronavirus pandemic.
2022-08-23T04:23:00Z
Sydney Airport traffic still has a lot to go through before it reaches 2019 figures, as this airport and other counterpart airports lament the labour problems.
2022-08-11T02:23:00Z
Air New Zealand is set to reduce capacity over the next six months as the airline faces the team’s disease levels in more than a decade.
Pilots from the Lufthansa Group’s Eurowings operator exerted more pressure on the parent company by voting to continue following the existing path of collective bargaining. participation of almost 90% – demonstrates the solidarity. . .
2022-08-31T15:17:00Z
Ryanair Group chief executive Michael O’Leary said he had been “somewhat misquoted” in a series of recent press articles suggesting he believed the “era of reasonable airfares” was over.
2022-08-31T11:12:00Z
British long-haul carrier Virgin Atlantic will expand its success in India through a codeshare agreement with cheap airline IndiGo. The new partnership will allow Virgin’s flights from London Heathrow to Delhi and Mumbai to continue. adding Chennai, Bengaluru, Hyderabad, Kolkata, Ahmedabad, Array. .
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