Airways New Zealand announces 2022 full-year results

Airways New Zealand announced its annual results for the year ending June 30, 2022. Through the year, 366,000 flights were safely facilitated through the 30 million square kilometres of airspace Airways controls. A focus on robust continuity planning and the health and safety of operational teams ensured minimal disruption to services due to the emergence of COVID-19 cases within the workforce in the year. Reflective of the extensive travel restrictions that remained in place for the majority of the year, the Airways Group is reporting a net loss after tax of $35.5 million. Air navigation services revenue was $121.6 million, lower than the budgeted $156.5 million. Airways International Limited (AIL) performed well in the difficult operating environment, successfully delivering work remotely while borders remained closed. AIL has delivered a Net Profit After Tax of $4.4 million, ahead of budget of $4.3 million. Through a second year of pandemic disruption, Airways has stayed the course and continued to deliver on its core purpose of ensuring the safety of New Zealand skies, Airways Board Chair Denise Church says. “While there is a growing sense of optimism as the recovery takes hold, the results reported today reflect the exceptionally challenging circumstances the aviation industry has been working in for the past two years.” Domestic markets have largely recovered, however forecasts currently indicate international traffic will return to pre-pandemic levels in 2025. “Airways’ focus on supporting our industry to recover has not shifted and in the year ahead we will continue to collaborate with our customers and partners on initiatives that will allow us to rebuild a future-fit industry that is even safer, resilient, efficient and sustainable,” Church says. Airways has continued to make inroads towards achieving its vision of creating a progressive airspace environment for the future, Airways Acting CEO James Young says. “For a number of years, Airways has been undertaking a modernisation programme aimed at achieving our objectives of creating a more efficient and sustainable aviation network. While there have inevitably been limitations to what we have been able to progress over the past year, and since the onset of the pandemic, we have continued to lay foundations that will allow us to push forward on these initiatives again as the recovery takes hold. I want to thank our people for their hard work and commitment that has allowed us to maintain our essential services through these extraordinary times,” he says. Read the full year report here. For Editorial Inquiries Contact: Editor Matt Driskill at [email protected] For Advertising Inquiries Contact: Head of Sales Kay Rolland at [email protected]