Air NZ Profit Taking Off Due To The Negative Publicity That Has Hit It This Year
Air NZ Profit Taking Off Due To The Negative Publicity That Has Hit It This Year Air New Zealand is set to announce a sharp increase in profit this week which the Airline will welcome as a shift in focus from the negative publicity that has hit it this year. The Airline's underlying profit is tipped by Forsyth Barr to rise to $330 million for the year to June 30, up 29 per cent on the previous year. Net profit is expected to rise from $182 million to $234.3 million, according to analyst Andrew Bowley who said growth could slow from here but he expected management to outline ways earnings will be lifted in the medium term. Craigs Investment Partners, while acknowledging the inherent risk in investing in Airlines, particularly after the strong run Air NZ has had over the past two years, said the company remained in a strong position to increase earnings in the coming years. The firm also expects earnings growth of around 30 per cent for the 2014 year followed by do...