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Airways New Zealand has released its full-year results for the period ending 30 June 2024, showing strong safety performance and solid financial returns.
The air navigation service provider safely managed 491,449 flights across 30 million square kilometres of airspace without any serious air proximity events attributable to air traffic control.
Board chair Denise Church praised the organisation for its continued dedication to ensuring New Zealand’s skies remain safe and says “This includes enabling operations for returning carriers and new routes, in addition to supporting emerging entrants in our skies and the ever-growing uncrewed aerial vehicle (UAV) sector.”
Financially, Airways reported a net operating profit after tax (NOPAT) of $14.5 million, which fell $3.9 million short of budget due to changes in tax law. However, the company returned a $20 million dividend to the New Zealand Government.
Looking ahead, Airways expects headwinds in FY25, with domestic and international air traffic volumes forecasted to remain below pre-pandemic levels. Chief executive James Young emphasised the company’s commitment to delivering value and says “We look forward to continuing to deliver value to New Zealand through the essential service we provide and financial return to our shareholder.”
