Better February for Air NZ

By Phil Boeyen, ShareChat Business News Editor

Thursday 4th April 2002

Air New Zealand's (NZSE: AIR) decision to rejig its flight schedules following September 11 has resulted in an improved load factor in February according to latest figures.

The airline reports that the number of available seat kilometres fell 8.1% to 2.348 billion in February compared to the same month last year, pushing its passenger load factor up from 70.4% to 78.8% for the month.

Group revenue passenger kilometres also improved during the month, rising 2.8% to 1.85 billion compared with February 2001.

The airline says the improved result was primarily driven by increased passenger traffic in the domestic sector which coincided with increased inbound traffic numbers.

On an annual basis revenue passenger kilometres has fallen 2.9% in the year ended February which the airline says is in line with capacity reductions of 2.9%.

This resulted in the load factor remaining constant at 72.6% for the year.

Meanwhile the airline has announced it has increased its code-sharing arrangement with German Star Alliance partner Lufthansa.

Air New Zealand says the NZ code will be added to a second daily Frankfurt-LA return service operated by Lufthansa.

"The new service, starting in May, significantly boosts Air New Zealand's ability to deliver European tourists to Australia and New Zealand, connecting with daily southbound flights from Los Angeles to Auckland, and three weekly non-stop services from Los Angeles to Sydney."

Air NZ executive Andrew Miller says the introduction of a second Frankfurt-LA code share flight reflects the airline's confidence that the international air travel market is recovering.

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