Air New Zealand profit falls in face of unprecedented competitionSUPPLIED Rivals put a dent in Air New Zealand's result. Air New Zealand has had its second best six-month financial result in its history but has taken a hit from new competitors flying into the country. Before tax, earnings were the second highest for an interim period in Air New Zealand's history, which chairman Tony Carter said was impressive in the face of unprecedented competition. DAVID WHITE/FAIRFAX NZ Air New Zealand chief executive Christopher Luxon says the airline has adjusted to a different competitive environment. READ MORE:* Air NZ wants Australian travellers* Air NZ working with MasterCard on new OneSmart card problems* Air New Zealand's record profit great for travellers, but not necessarily fares* Air New Zealand sells 20 per cent of Virgin Australia to Chinese firmLower fuel prices had also helped.

Source: Stuff February 22, 2017 19:44 UTC