Photo: ODT filesAir New Zealand said its first-half net profit dropped by 34 per cent to $152 million in the first half to December. The net profit is down $80 million from $232 million a year earlier. In a bid to stimulate local growth, Air New Zealand announced this week it would be slashing its domestic fares considerably. This does, however, come at a time when Air New Zealand is facing increased competition from international carriers. Evidence of this competition was seen earlier this month, when a price war between Air New Zealand and Hawaiian Airlines saw prices drop to record lows.

Source: Otago Daily Times February 27, 2019 19:52 UTC