Airways New Zealand today announced its interim results for the half year ending 31 December 2020. The air navigation
services provider has recorded a half year loss of $13.8 million, while safety performance remained strong.
Domestic air traffic levels improved more quickly than expected from July to December, reaching 80 per cent of
pre-pandemic levels by the end of the period. Along with limited continuing international flights, these traffic levels
equate to approximately 56 per cent of pre-pandemic revenue for Airways.
Airways’ financial result reflects the Covid-19 driven challenges currently facing the aviation industry, CEO Graeme
Sumner said.
“While the domestic market is showing encouraging signs of recovery, our core revenue streams continue to be
significantly affected,” he said. “Any marked improvement for Airways will come as international travel recovers, and
this is forecast to still take some time even with the arrival of Covid-19 vaccines.”
Importantly, Airways maintained its solid safety record over the six months, with no near collision events in controlled
airspace and no serious harm injuries involving our people.
Mr Sumner said Airways’ focus for the period has remained on delivering sound operational and safety performance, while
moving ahead with initiatives that will be building blocks in Airways’ recovery and the aviation industry’s pathway back
to growth.
“Credit for this must go to our people who have shown a great deal of resilience in continuing to carry out their roles
to the highest standard despite the uncertain times we’ve found ourselves in," he said.
Airways’ capital investment programme remains constrained with only investments in systems and technology that have been
identified as being critical to maintaining safe services able to go ahead.
“Other important initiatives like our digital tower and technologies development programme remain a priority for our
future, but it is necessary for them to be put on hold for now.” Mr Sumner said.
Airways International Limited (AIL) has continued to be been less affected by the Covid-19 crisis, achieving a NOPAT of
$2.7 million for the half year. AIL is the commercial arm of Airways that delivers air traffic management consultancy
services, training, and technology products worldwide. Through a shift to digital delivery platforms, AIL has continued
to sign new international deals and achieve milestones in global projects since the onset of the pandemic.
“AIL is playing an integral role in Airways’ recovery and will play an important role in supporting future growth for
our core business,’’ Mr Sumner said.