Sharechat Logo

Air NZ passenger numbers rose 2.7% in August, led by domestic, Tasman routes

Tuesday 20th September 2011

Text too small?

Air New Zealand lifted passenger numbers by 2.7% in August as an increase in volumes on domestic and trans-Tasman routes more than made up for a decline on long-haul routes.

The airline carried 1.01 million passengers last month, up from 978,000 in August 2010. The passenger load factor, a measure of capacity utilisation, was unchanged at 81.9%, the company said in a statement. Revenue passenger kilometers (RPKs), a measure of demand, fell 2.8%.

Demand fell most markedly on Asia/Japan/U.K. routes, with RPKs falling 10.7%, and the airline said the Christchurch and Japanese earthquakes earlier in the year continue to “significantly affect passenger numbers on the Japan routes.” By contrast, RPKs on domestic routes climbed 4.9% and total short-haul rose 5.8%.

Shares of Air New Zealand fell 0.9% to $1.10 and have tumbled 27% this year. The stock is rated a ‘buy’ based on six recommendations compiled by Reuters, with a median target price of $1.48.

The airline carried 889,000 passengers on short-haul routes last month, up 4.7% from August last year. Domestic volumes rose 4.2% to 649,000 and passengers on Tasman/Pacific routes rose 5.9% to 240,000.

Long-haul passengers fell 10% to 116,000, with Asia/Japan/U.K. volumes falling 8.5% to 49,000 and North America/U.K. declining 11% to 67,000.

(BusinessDesk)

BusinessDesk.co.nz



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

SPG - Change to Executive Team
BGI - Forgiveness of $200,000 of secured indebtedness
General Capital Subsidiary General Finance Market Update
AFT,Massey Ventures,Gilles McIndoe to develop scar treatmen
April 24th Morning Report
Cheers to many fewer grape harvest spills
GTK - Half-Year Results Announcement Date
Government ends war on farming
Sky and BBC Studios renew expanded, multi-year agreement
AOF - Q1 Improved Trading Performance & FY24 Guidance Maintained