Air New Zealand's 1996-97 Profit Drops 33 Percent
Air New Zealand, stung by a stronger currency, an upsurge in regional competition and higher fuel costs, posted a NZ$150.2 million (US$96.1 million) profit for the fiscal year ended June 30, 33.3% below the prior- year level. Revenue declined 2.3% to NZ$2.93 billion ($1.88 billion). During a year of...
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