Air New Zealand and Auckland Airport profits jump; Christchurch earthquake uncertainty

The IMF stated it would likely revise down its economic growth forecast for New Zealand “somewhat” from the 3% forecast, following the devastating earthquake in Christchurch which is expected to cost the New Zealand economy up to NZD20 billion (USD14.9 billion). [2561 words]

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This report contains the following subheadings:

• Air New Zealand to focus on Christchurch economic recovery
• Air New Zealand reports 'strong' half-year performance
• Net profit of USD73m as revenues increase to USD1.7 billion
• Group yield improves, capacity remains below peak of 2008
• Improved long-haul yields; short-haul remains 'reduced'
• Well hedged for next six months
• Faces greater competition on long-haul Asian routes
• To take delivery of five aircraft in FY2011
• Auckland's first half growth leads to uplift in profits and dividends
• Revenue growth of 9%; double-digit airfield and retail income
• ‘Encouraged’ by new air services, particularly from Asia
• Future uncertain after earthquake shock

This report contains the following charts and tables:

• Key influences on Air New Zealand profitability: Six months ended 31-Dec-2010
• Air New Zealand financial highlights for the six months ended 31-Dec-2010
• Air New Zealand operating profit margin and net profit margin: FY2008 to 1HFY2011
• Air New Zealand yield: 2005 to 1HFY2011
• Air New Zealand passenger numbers and PLF: 2004 to 1HFY2011
• Air New Zealand yield development: Jul-2010 to Dec-2010
• Air New Zealand capacity developments: 1H2006 to 1H2011
• Long-haul yield and RASK performance: Jul-2010 to Dec-2010
• Domestic yield and RASK performance: Jul-2010 to Dec-2010
• Air New Zealand fuel hedging position
• Jet fuel and crude oil price development: Jun-2009 to Feb-2011
• Air New Zealand fleet profile
• Aircraft Capital Commitments: FY2011 to FY2013
• Auckland Airport EBITDA margin and profit after tax margin: 2005 to 1HFY2011
• Auckland Airport revenue growth and passenger numbers growth: 2005 to 1HFY2011
• International long-term car park occupancy: 2009 vs 2010
• 2010 duty free sales: % variance to 2009
• Passenger growth rates: Jul-2010 to Dec-2010
• Significant route development commencing in the six months to 31-Dec-2010
• Significant route development announced to start from Jan-2011
• New Zealand international arrivals by region