An extra payment on the home loan, a deposit on that long awaited extended escape, a much-needed splurge on a whole new wardrobe or simply save it for a rainy day.
The spending choices are unlimited for some 8,500 Air New Zealand employees, who are set to receive bonuses of up to $1,700, next week!
Know someone who works for the airline? You’ll probably spot them next week walking around like…
Company-wide bonuses, for employees who currently don’t have other incentive programmes as part of their employment contract, were announced this morning when the carrier revealed earnings before taxation of $527 million over the 2016/17 period.
Although the figure isn’t as high as the 2015/16 $663 million, it’s still a major milestone for the company as the second highest financial result in its history.
According to Air New Zealand’s Chief Executive Officer Christopher Luxon, strong results, such as a Net Profit After Tax of $382 million, were achieved despite strong competition on some of the airline’s newer and mature routes.
“This year Air New Zealand faced an unprecedented increase in the level of competition from some of the world’s largest airlines and effectively rose to the challenge.”
Christopher Luxon, Air New Zealand Chief Executive
Luxon said part of the carrier’s success in topping competing airlines came from the “impressive way” employees dealt with rivals while “achieving commercial, customer and cultural excellence”.
For example, over the last year, Air New Zealand employees helped the airline beat Qantas and Virgin Australia as ‘Australia’s most reputable company’ and heavily contributed to producing the ‘Ad campaign of the year’.
Looking ahead, Luxon said he sees opportunity for the carrier to grow its domestic network, which along with optimistic market dynamics and an average jet fuel price of US$60 per barrel, he believes will improve the airline’s earnings next year.
Other fun facts about Air New Zealand’s 2016/17 financial year:
– The carrier added 6.3 percent more capacity
– And carried 16 million passengers
– The airline received record customer satisfaction reviews
– And expects to spend $1.5 billion in aircraft expenditure over the next four years