Air New Zealand staff join Qantas colleagues with bonuses

Timothy Hiatt/Getty Images for Air New Zealand

Air New Zealand staff picked up bonuses today as the airline posted a record after tax profit of $NZ463 million ($A433 million), a rise of 42%.

The result was on an 8.2% jump in operating revenue to $NZ5.2 billion ($A5 billion). The key driver was an 8.9% rise in passenger revenue.

This week Qantas also posted a record annual profit and paid a cash bonus totalling $75 million to 25,000 non-executive staff, made up of $3,000 for full time employees and $2,500 for part timers.

The board of Air New Zealand today awarded a bonus of up to $NZ2500 ($A2400) to 8,200 staff not on other incentive programs.

“We recognise the importance of working collaboratively with our unions through our high performance engagement program to achieve results that benefit both our business and our people,” says chairman Tony Carter.

Shareholders also did well. A final dividend of 10 NZ cents a share was declared, bringing the full year payout to 20 cents, a 25% increase. The board also also declared special dividend of 25 cents a share.

The airline saw 12% capacity growth in 2016 with the launch of three new international services — Houston, Buenos Aires and Ho Chi Minh City.

Shares in the ASX-listed Air NZ last traded at $A2.12, well up on the year low of $1.88 but down from a high of $3.10.

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