Press Release – Airways New Zealand Airways New Zealand today announced its interim results for the half year ending 31 December 2020. The air navigation services provider has recorded a half year loss of $13.8 million, while safety performance remained strong. Domestic air traffic …
Airways New Zealand today announced its interim results for the half year ending 31 December 2020. The air navigation services provider has recorded a half year loss of $13.8 million, while safety performance remained strong.
Domestic air traffic levels improved more quickly than expected from July to December, reaching 80 per cent of pre-pandemic levels by the end of the period. Along with limited continuing international flights, these traffic levels equate to approximately 56 per cent of pre-pandemic revenue for Airways.
Airways New Zealand falls to $14 million loss for six months
2 Mar, 2021 04:24 AM
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Airways has seen traffic plunge during the past six months. Photo / Brett Phibbs
Airways has slumped to a $13.8 million loss for the six months ending December 31, 2020.
This compared an after-tax profit of $16.2m for the same period the previous year for what pre-Covid had been a fast-growing aviation sector where Airways is a monopoly supplier for airlines.
The air navigation services provider says despite domestic air traffic levels improving more quickly than expected from July to December in 2020 - reaching 80 per cent of pre-pandemic levels by the end of the period- this reduced traffic combined with limited international flights meant 56 per cent of pre-pandemic revenue.