This Content Is Only For Subscribers
Airways New Zealand has announced its interim results for the half-year ending December 31, 2024, reporting solid safety and operational performance alongside a positive financial result.
The air navigation services provider is reporting an after-tax profit of $6.7 million for the half-year, $0.5 million ahead of budget. The result is primarily due to lower depreciation, equipment costs, and professional services expenses.
Airways safely managed 242,538 flight movements across the 30 million square kilometres of airspace it controls during the period.
Air traffic services revenue for the half year was impacted by fewer flight movements, driven by challenges faced by airlines, including engine and servicing issues. While headwinds are expected to persist, core revenue is anticipated to recover through the second half of the year and Airways remains on track to achieve its budgeted Group profit for the full year.
“The steady interim result reflects our continued focus on operational excellence and efficient cost management,” Airways Chair Denise Church says.
“As the aviation industry continues to navigate a challenging environment, Airways remains committed to managing costs appropriately, maintaining our high safety standards and advancing our strategic objectives.”
In addition to sound financial and safety performance, Airways has continued to advance its strategy to create the airspace environment of the future.
“Our strategic initiatives are designed to ensure we are well-positioned to meet the future needs of the aviation industry,” Airways CEO James Young says.
“We are focused on creating a safe, flexible, and accessible airspace environment that benefits all users.”
