Air New Zealand says passenger numbers are expected to grow by 15 percent in the next year, which will see its underlying profit nearly double in the first six months of the year.
The airline told shareholders at the annual meeting in Auckland yesterday that it expected to make a pre-tax profit of $400 million in the six months ending in December, excluding contributions from Virgin Australia.
Chief executive Christopher Luxon said the airline expected strong growth ahead as it was working with Tourism New Zealand and others to develop new markets in Australasia, Asia, and North and South America.
Air New Zealand's shareholders approved a 10 percent increase in directors' fees.
Some felt that probably was not quite good enough for the "hard-working" board, and would have given them more, if not for the recommendations of an independent review and an endorsement from the Shareholders' Association.