Air NZ interim profit soars 75pc

WELLINGTON, Feb 24 (AFP): Air New Zealand posted a 75-per cent increase in half-year net profit Thursday, as passenger numbers, cargo volumes and yields all increased from a year earlier. The airline said net profit for the six months to December was NZ$98 million ($73.3 million), up from NZ$56 million a year earlier, while operating revenue rose nine per cent to NZ$2.2 billion. "Overall, Air New Zealand has had a strong six months," chairman John Palmer said. Palmer said the airline, which is 76.5 per cent state owned, had a solid platform for growth, citing a strategic alliance forged with Australian low cost carrier Virgin Blue, in which Air New Zealand holds a 14.9-per cent stake.