PROFIT BY AIR N.Z.
Achievement ‘remarkable’ (N.Z. Press Association) WELLINGTON, Aug. 31. Air New Zealand's net profit for the 1970-71 year of sl.lm was described as a remarkable achievement by the Minister of Transport (Mr Gordon) today. It was sl.4m less than the profit in the previous year. The airline’s annual report was tabled in Parliament today. Mr Gordon said in a statement that most international airlines were reporting big losses.
The last year was an exceptional one, during which costs rose by 25 per cent, Mr Gordon said. But the company matched this by achieving a traffic growth well above the world average. Its passenger traffic increased by 15.9 per cent.
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Press, Volume CXI, Issue 32700, 1 September 1971, Page 16
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112PROFIT BY AIR N.Z. Press, Volume CXI, Issue 32700, 1 September 1971, Page 16
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