Airways New Zealand records strong result

WEDNESDAY, SEPTEMBER 5, 2018

Airways New Zealand is pleased to report a strong performance for the year ending 30 June 2018, in a period of historically high air traffic volumes and increased profits from its commercial businesses.

The state-owned enterprise recorded a Net Profit After Tax (NPAT) of $27.2 million for the year, up from $23.7 million in the prior year. Airways’ commercial businesses contributed $6.4 million to the result, a 23 per cent increase from these businesses on FY17, supported by a number of new contract wins and cost efficiencies achieved through restructuring.

The financial result includes a one-off gain of $4.3 million from the sale of surplus land.

“It is particularly pleasing to note a solid result from our international businesses. Significant growth in the delivery of air traffic control (ATC) training services, particularly in the Middle East and steady flows of domestic and international students are keeping our training campuses close to full capacity,” says Mr Sumner.

“Meanwhile, air traffic volumes have remained relatively stable after a number of years of sustained growth,” he says.

Airways recorded no high severity health and safety events for the year. One near collision involving a drone was reported.

Mr Sumner says: “The serious challenges and difficulties presented by drone operations in controlled airspace have been brought into sharp focus as a result of both this event and a number of unauthorised drone incursions at major New Zealand airports over the year. Managing drones safely in New Zealand airspace is of increasing concern for Airways.

“We are progressing a number of technology trials and initiatives with Government agencies, our people, customers and partners to safely manage our airspace in the future.”

During the year Airways invested $46 million in technologies that will maintain the aviation network’s levels of operational service and ensure greater safety, resilience and efficiency in the future.

Airways Board Chair, Judy Kirk says: “As a critical provider of air traffic management services to the aviation sector and a leader of innovation in aviation we are proud of our contribution to New Zealand and are pleased to report an $11 million dividend to the Crown this year.”

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