Air NZ

A major turnaround in the hedging of the New Zealand dollar helped Air New Zealand lift its operating profit by 28% in the six months ending December.

There appears to be only a very slender chance another company will step in immediately to maintain a daily air service between Wanaka and Christchurch once Air New Zealand's Eagle Air pulls out at the end of January.

Three part-time jobs at Wanaka Airport will be lost when Eagle Air suspends its daily Wanaka-Christchurch flights from January.

Wanaka Tourism and business leaders last night expressed disappointment over Air New Zealand subsidiary Eagle Air's decision to suspend its Wanaka-Christchurch service from January.

Air New Zealand has slammed a 78% rise in Dunedin International Airport user charges as profiteering at the expense of passengers.

Air New Zealand was being prudent in reviewing its operations in a volatile market place, Forsyth Barr head of research Rob Mercer said yesterday.

Air New Zealand has cut its domestic fares and introduced nationwide standby flights in an effort to get more Kiwis flying.

Earthquakes, rising fuel costs and declining demand for international flights are all expected to contribute to an estimated 17%-36% decline in after-tax profit for the national carrier, Air New Zealand.

Air New Zealand resumed flights to Queenstown yesterday, with one from Auckland arriving at midday.

Air New Zealand is flying high with customers and sharebrokers as it continues to fly its passengers while Qantas and other airlines keep their planes grounded.