Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Airways New Zealand Announces $13.8 Million Half Year Loss

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’ financial result reflects the Covid-19 driven challenges currently facing the aviation industry, CEO Graeme Sumner said.

“While the domestic market is showing encouraging signs of recovery, our core revenue streams continue to be significantly affected,” he said. “Any marked improvement for Airways will come as international travel recovers, and this is forecast to still take some time even with the arrival of Covid-19 vaccines.”

Importantly, Airways maintained its solid safety record over the six months, with no near collision events in controlled airspace and no serious harm injuries involving our people.

Mr Sumner said Airways’ focus for the period has remained on delivering sound operational and safety performance, while moving ahead with initiatives that will be building blocks in Airways’ recovery and the aviation industry’s pathway back to growth.

“Credit for this must go to our people who have shown a great deal of resilience in continuing to carry out their roles to the highest standard despite the uncertain times we’ve found ourselves in," he said.

Airways’ capital investment programme remains constrained with only investments in systems and technology that have been identified as being critical to maintaining safe services able to go ahead.

“Other important initiatives like our digital tower and technologies development programme remain a priority for our future, but it is necessary for them to be put on hold for now.” Mr Sumner said.

Airways International Limited (AIL) has continued to be been less affected by the Covid-19 crisis, achieving a NOPAT of $2.7 million for the half year. AIL is the commercial arm of Airways that delivers air traffic management consultancy services, training, and technology products worldwide. Through a shift to digital delivery platforms, AIL has continued to sign new international deals and achieve milestones in global projects since the onset of the pandemic.

“AIL is playing an integral role in Airways’ recovery and will play an important role in supporting future growth for our core business,’’ Mr Sumner said.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Statistics: Consents Remain At Record Levels
There were 47,715 new homes consented in the year ended October 2021, up 26 percent compared with the year ended October 2020, Stats NZ said today. "The year ended October 2021 marks another record for the annual number of new homes consented,” construction statistics manager Michael Heslop said... More>>

Foodstuffs: New World & Four Square Trial NZ’s First Grocery Delivery Offer With Uber Eats

New World & Four Square have partnered with Uber Eats to unlock the first grocery offering available on the platform in Aotearoa. For New World and Four Square it’s yet another way to put New Zealanders first, particularly with those inevitable last-minute grocery needs... More>>

Digitl: Download 2.0 – Vodafone Wi-Fi Calling hits early milestone
Vodafone says it has 10,000 customers using its Wi-Fi Calling service. It took less than three months to reach that milestone; the service began operating in September... More>>

ABC Business Sales: Demand High For Covid-proof Businesses
Despite the continuing challenges facing businesses in this Covid environment, right now there are more buyers looking for a small-medium sized business than there are sellers in the market... More>>

PriceSpy: Producer Prices Increase
New Black Friday and Covid-19 Report* released by PriceSpy says people’s fear of stepping inside physical shops during big sales events like Black Friday has risen since last year; Kiwis are still planning to shop, but more than ever will do it online this year... More>>

NZ Skeptics Society: Announce Their 2021 Awards, And Dr Simon Thornley Wins The Bent Spoon

Every year the New Zealand Skeptics presents its awards to people and organisations who have impressed us or dismayed us, and this year it’s been hard to pick our winners because there have been so many choices!.. More>>

REINZ: Sales Volumes Leveling Out

Data released today by the Real Estate Institute of New Zealand (REINZ) shows there were 44 fewer lifestyle property sales (-2.6%) for the three months ended October 2021 than for the three months ended September 2021... More>>