Airways NZ profit rises

Fairfax

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State-owned air traffic controller Airways New Zealand today reported a net profit after tax of $10.6 million in the year to June 30, up from $6.86m in the same period last year.

The company said the increase was achieved in a difficult environment with high fuel prices and the US credit crunch affecting its clients.

Airways had revenue of $139m, of which $121m came from airways charges. The revenue last year was $131m.

The company paid $6m in dividends to the Government and a $2m rebate to customers.

Airways chief executive Ashley Smout said a key issue was ensuring that the company had enough trained staff.

"There is a high demand for air traffic controllers globally and particularly in the Middle East where the aviation industry is experiencing dramatic growth," he said.

Airways has completed an 18-month project to upgrade landing systems at Auckland Airport.

"The new low visibility approach keeps New Zealand's main international gateway open when air traffic is disrupted due to fog," Airways said.

- NZPA