Airways NZ back in the black
- Health & Leisure
- Monday, 09 October 2023
Airways New Zealand says annual results for the year ending 30 June 2023 show it in profit for the first time since the Covid-19 pandemic began.
The Airways Group recorded a net profit after tax of NZ$5.4 million and the core business made a net profit after tax of NZ$0.4 million.
Air navigation services revenue was higher than expected at NZ$201.8 million, compared to a budget of NZ$190.5 million.
The commercial business, Airways International Limited (AIL), reported a net profit after tax of NZ$5.0 million for the year.
Airways supported the recovery of the aviation sector this year.
This was made possible by the New Zealand Government’s continued financial support.
Airways managed 478,131 flights through the 30,000,000 square kilometres of airspace it controls. By June 2023, domestic flight movements had all but recovered compared to the same period before the Covid-19 pandemic, with international flight movements close to full recovery.
