Air New Zealand announced normalised earnings before taxation of $33 million for the six month period ended 31 December 2011, a 71% decline on the same period last year. Net profit after taxation was $38 million.“Acknowledging this disappointing result we have already commenced a series of initiatives to improve the airline’s profitability by more than $195 million per annum by FY15 through a combination of cost reduction, improved efficiencies and revenue growth,” says Air New Zealand Chief Executive Officer Rob Fyfe.
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