Air New Zealand’s net profits up 8%

Air New Zealand’s net profits up 8%

   Air New Zealand reported Monday an 8 percent rise in its net profits to NZ$180 million ($124 million), for its fiscal year ended June 30.

   Group operating revenue was up 3 percent to NZ$3.6 billion ($2.5 billion), compared to NZ$3.5 billion in the previous fiscal year. Operating revenue for the airline unit increased 4 percent to NZ$3.3 billion ($2.3 billion), from NZ$3.2 billion in the last fiscal year.

   Air New Zealand said if fuel prices continue at current levels, profits for the current fiscal year could be reduced 40 percent below those from the 2005 fiscal year.