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Air New Zealand posts 24 pct fall in half-year profit
February 22, 2017 / 8:00 PM / 10 months ago

Air New Zealand posts 24 pct fall in half-year profit

WELLINGTON, Feb 23 (Reuters) - Air New Zealand posted a 24 percent decline in half-year profit on Thursday, hurt by a jump in fuel prices and as rival airlines expand rapidly into the market.

Net profit for the national carrier came in at NZ$256 million ($183.86 million) for the six months to Dec. 31, down from a half-year record of $NZ338 million in the same period last year.

It will pay an interim dividend of NZ$0.10 per share, in line with NZ$0.10 a year ago.

The company forecast full-year earnings between NZ$475 to NZ$525 million.

It has previously guided for a full-year pre-tax profit between NZ$400 million and NZ$600 million. ($1 = 1.3924 New Zealand dollars) (Reporting by Charlotte Greenfield; Editing by Edwina Gibbs and Toby Chopra)

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