KoruPilot

Air New Zealand posted a 58 percent rise in first-half profit, boosted by increased passenger numbers, and said it expected a better full-year result.

The company said on Friday its net profit for the six months ended December 31 was NZD$115 million (USD$93.5 million).

The largely state-owned airline said it carried more passengers on both domestic and international services, while cargo and engineering revenue was also higher.

"Despite high fuel prices, tight labour markets and a currency that is making New Zealand less competitive as an international tourist destination in some markets, we have produced a solid result and have proven our ability to do well against competition," Deputy Chairman Roger France told a briefing.

Last month Air New Zealand moved to cut domestic fares by up to 30 percent to increase passenger numbers. It has also introduced bigger planes that are cheaper to operate.

Air NZ is facing increased competition in the domestic market, which it dominates, from Australian carriers Qantas and Virgin Blue.

Operating revenue rose 9.6 percent to NZD$2.3 billion as an increase in capacity saw its load factor rise 5.3 percentage points to 79.4 percent.

The airline said it paid a net NZD$81 million more for fuel, which reflected a 13 percent rise in world prices and also higher consumption from flying new routes.

It said it was 80 percent hedged for the rest of the financial year but, at current prices, would still have a substantially higher fuel bill.

France said the airline expected full-year earnings before tax one-offs to top last year's level, although fuel price volatility had reduced the certainty of any forecast.

(Reuters)

KoruPilot

Make that 58%. Bugger. . .

FlyingKiwi

Seems as though things are going well down there Koru......
I remember you mentioning there may be a fair bit of retiring happening in the coming years. Any idea what the projected hiring outlook is for 2009, 2010, 2011???

Tweet46

I thought you meant 58.5%. 585% would have been nice though!!I saw that in the Southland Times. With the addition to the fleet and upcoming retirements, it looks I'm picking a good time to retire from the AF!!

KoruPilot

I heard from a pilot who was at a recent business (they put them on for pilots but I have not been rostered yet) day that it was something like 400 more pilots by 2012. I think they meant 2015 as 400 pilots is almost 50% of our current pool.

We have so many older pilots here it's not funny; seriously, it's not funny, I'm talking well into their 60's and one who's 70. I reckon that in the not too distant future there will be many guy's finally retiring. That would be very good for us (well, me) as movement has been quite stagnant for about 30 years, barring a fair bit at the bottom in the last five years due to expansion.

KoruPilot

Tweet, mate, are you going to be able to swing an interview soon or will you have to cross a couple more T's. It'd be nice to get it out of the way knowing that with the upgrade in licence when you get here you'll be well up the list and ready for a course date; makes sense to me. I guess it's moot as the interviewing is going to spool up here later in the year and people will slot in pretty quickly after interviews.

Tweet46

Hi Koru,

I've had several good conversations with Chris and it looks like the interview is contingent on my ticket conversions. He did say once I've got my ATPL I'm at the top of the list. I'll be starting the process in April for the CPL/Inst Rating, probably in Invercargill. I'm hoping I can get it knocked out in about 2 weeks. I'll give you a shout when my plans firm up. I would love to see you again as well as get a chance to start paying off that beer debt I owe you!!

I am seriously considering going to the Links just to build some time to ease the ATPL conversion pain. If you get the chance can you PM/e-mail me any websites/contact info you have?

Cheers,
JD

KoruPilot

At the Links you will be there at least a year, if not, realistically two. I'd avoid that one mate. With the position you are in you will have the CPL right away and the ATPL pretty close behind. Your number on the list put's you in for sometime in the next twelve months.

The links these day's are for guy's with no multi-turbine command, and you are not in that category. Why don't you get the GI bill to pay for a fancy new B733 type rating and go to Jetconnect? Even with buying one you'd net more at the end of the year than if you went to a Link.

Just my .75c.

Ciao.

KoruPilot

Oh yea, P had to do the exams when she got here as most of hers had run out. It didn't take too long really.
She almost went to Eagle by the way but fortunately turned them down to take a left seat Metro III job, which is way more towards what you should be looking at. . . in my opinion. I wonder of she would have arrived at mainline when she did if she had been at Eagle; likely not.

Tweet46

Hi Koru,

I was only looking at the Links as way to ease the conversion pain, only 1 test versus 5. I may be able to get on with a fractional here to get the required commercial ops hours. In the meantime I will get the Commercial/Multi/IR done and can work on the exams via correspondence. In any case I plan on stopping in to meet with Chris and to give Margie a copy my official PR/Commercial ticket, hopefully you will be in town and can introduce me.

Cheers,
JD