Air New Zealand reports net profit of $24 million

Air New Zealand announced earnings before taxation of $26 million for the six-month period ended 31 December 2008, a decrease of 84% on the same period last year. Net profit after tax was $24 million, down 79%. Operating revenue increased by 3.7% or $87 million on the same period last year to $2.4 billion for the first half of the year. Foreign exchange movements contributed to $75 million of this improvement.