Air New Zealand lifted its net profit for the six months to Dec. 31, 2009, to NZ$56 million ($38.6 million), more than double the NZ$24 million reported in the year-ago semester, despite fuel hedge losses and a significant decline in revenue. Turnover fell 15% to NZ$2.1 billion but expenditure was down 18.9% to NZ$1.67 billion. RPKs decreased 4.6% to 13.34 billion while passenger numbers were level at 6.3 million, reflecting the public's desire to travel, albeit shorter distances. Load ...

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