Air New Zealand Posts Record Profit but Warns of Competition

August 26, 2016 6:02 AM

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New Zealand's national airline has posted a record profit thanks to surging tourism and lower fuel costs, but warns it expects increased competition from rival international carriers in the year ahead.

Air New Zealand on Friday announced an after-tax profit of 463 million New Zealand dollars ($339 million) for the year ending June, an increase of 42 percent over the previous year. Revenue was up 6.2 percent over the previous year to a record NZ$5.2 billion.

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