An Air New Zealand 737 comes in to land at Wellington airport in Wellington. The carrier is suffering under increased flights to its home country from competitors including Emirates. Marty Melville / AFP
An Air New Zealand 737 comes in to land at Wellington airport in Wellington. The carrier is suffering under increased flights to its home country from competitors including Emirates. Marty Melville /

Air New Zealand earnings slide as Emirates increases pressure



Air New Zealand posted a 24 per cent decline in half-year profit on Thursday, hurt by rival airlines expanding rapidly into the market.

Low oil prices and double-digit growth tourism to New Zealand propelled earnings to record profits last year.

Competitors such as Emirates, Tianjin Airways and China Southern have also sought to gain a greater slice of the tourism boom, increasing the number of flights to New Zealand. Qatar Airways this month launched one of the world’s longest flights between Auckland and Doha.

Net profit for the national carrier came in at NZ$256 million (Dh674.9m) for the six months to December 31, down from a half-year record of $NZ338m in the same period last year.

The chairman Tony Carter said that the airline faced, “unprecedented competitive capacity into the New Zealand market”.

It will pay an interim dividend of NZ$0.10 per share, in line with NZ$0.10 a year ago.

The company forecast full-year earnings between NZ$475m to NZ$525m. It has previously guided for a full-year pre-tax profit between NZ$400m and NZ$600m

Air New Zealand said that higher oil prices, which jumped 50 per cent in the last year, had not affected the its half-year results, but increased fuel costs would be a headwind in the second half.

The New Zealand carrier may also face further headwinds on US routes if an attempt by American Airlines and Qantas to revive their partnership under the Trump administration is successful.

* Reuters

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The years Ramadan fell in May

1987

1954

1921

1888

Fixtures

Saturday, May 28, United States v Scotland
Sunday, May 29, United States v Scotland
Tuesday, May 31, UAE v Scotland
Wednesday, June 1, UAE v United States
Friday, June 3, UAE v Scotland
Saturday, June 4, UAE v United States

UAE squad: Ahmed Raza (captain), Chirag Suri, Muhammad Waseem, Vriitya Aravind, CP Rizwan, Basil Hameed, Rohan Mustafa, Kashif Daud, Karthik Meiyappan, Zahoor Khan, Junaid Siddique, Alishan Sharafu, Akif Raja, Rahul Bhatia

Table
1. Oman 32 19 11 40 +0.156
2. Scotland 16 11 3 24 +0.574
3. UAE 18 10 6 22 +0.22
4. Namibia 14 7 7 14 +0.096
5. United States 16 7 9 14 -0.229
6. Nepal 12 6 6 12 +0.113
7. Papua New Guinea 20 1 19 2 -0.856

Sarfira

Director: Sudha Kongara Prasad

Starring: Akshay Kumar, Radhika Madan, Paresh Rawal

Rating: 2/5

The pillars of the Dubai Metaverse Strategy

Encourage innovation in the metaverse field and boost economic contribution

Develop outstanding talents through education and training

Develop applications and the way they are used in Dubai's government institutions

Adopt, expand and promote secure platforms globally

Develop the infrastructure and regulations

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Display: 6.7” LPTO Amoled, 2412 x 1080, 394ppi, HDR10+, Corning Gorilla Glass

Processor: Qualcomm Snapdragon 8+ Gen 2, octa-core; Adreno 730 GPU

Memory: 8/12GB

Capacity: 128/256/512GB

Platform: Android 13, Nothing OS 2

Main camera: Dual 50MP wide, f/1.9 + 50MP ultrawide, f/2.2; OIS, auto-focus

Main camera video: 4K @ 30/60fps, 1080p @ 30/60fps; live HDR, OIS

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I/O: USB-C

Durability: IP54, limited protection

Cards: Dual-nano SIM

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In the box: Nothing Phone (2), USB-C-to-USB-C cable

Price (UAE): Dh2,499 (12GB/256GB) / Dh2,799 (12GB/512GB)

The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat

EMIRATES'S REVISED A350 DEPLOYMENT SCHEDULE

Edinburgh: November 4 (unchanged)

Bahrain: November 15 (from September 15); second daily service from January 1

Kuwait: November 15 (from September 16)

Mumbai: January 1 (from October 27)

Ahmedabad: January 1 (from October 27)

Colombo: January 2 (from January 1)

Muscat: March 1 (from December 1)

Lyon: March 1 (from December 1)

Bologna: March 1 (from December 1)

Source: Emirates