Record profits for Air New Zealand
The bank accounts of Air New Zealand and its staff members are looking a lot healthier this week.
The company's pre-tax profit has soared to a record 40 percent to $663 million, while net profit after tax jumped 42 percent to $463 million.
And to say thanks, 8,200 staff members who are not part of any incentive programme, will be receiving a $2,500 bonus.
Board chairman Tony Carter says the airline's staff are critical to the company's success.
"We recognise the importance of working collaboratively with our unions through our High Performance Engagement programme to achieve results that benefit both our business and our people."
Chief executive officer Christopher Luxon says it is not just profits that are looking extremely healthy. The airline ended the year with customer satisfaction at record highs, brand health in excellent shape and the number one corporate reputation in New Zealand.
"These are the best results ever in our 76-year history and I am extremely proud of the airline's achievements, our people and the contribution we make to supercharging New Zealand's success."
The airline is boasting a 70 percent rise in earnings (before other significant items and taxation) to $806 million in the 2016 financial year.
Low fuel prices and an extended tourism boom have also been large contributors to the company's success.
Air New Zealand has announced a fully imputed final ordinary dividend of 10 cents per share, bringing the 2016 full year fully imputed ordinary dividends to 20 cents per share.
The board also declared a fully imputed special dividend of 25.0 cents per share.
The Government will also be paid around $260 million in total dividends.
Mr Luxon says the future is looking positive despite increasing competition.
"There's no doubt customers have more choice but we are confident that we have the right pricing, products and services to stay a step ahead of the competition as we grow our business at home and overseas,"
Air New Zealand plans to spend $2.1 billion on aircraft over the next five years.