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Air New Zealand has a profitable fiscal first half
February 27, 2011
Air New Zealand Boeing 777-319 ER ZK-OKM (msn 38405) LAX (James Helbock), originally uploaded by Airliners Gallery.
Air New Zealand (Auckland) reported before taxes profit of NZ$112 million for the six month period ending on December 31, 2010, including an $18 million gain on equity swaps relating to the investment in Virgin Blue Airlines.
On December 21, 2010, the New Zealand government approved an alliance between Air New Zealand and Virgin Blue, which allows both carriers to expand operations between Australia and New Zealand with codeshares for trans-Tasman and connecting domestic flights, reciprocal access to lounges and frequent flyer programs.
On January 20, 2011, Air New Zealand announced it would take a shareholding stake of between 10% and 14.99% in Virgin Blue.
Copyright Photo: James Helbock. Please click on the photo for information on the introduction of the new Boeing 777-300 ER.
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