Australia’s Qantas Airways’ first half results showed a net profit falling 25% to the equivalent of just over R5.1 billion.
Meanwhile, across the Tasman Sea, Air New Zealand posted a 24% drop in first half net profit to R2.3bn.
Both airlines attributed their falls in profit to the high levels of capacity growth affecting all major airlines. As Air NZ said, competing carriers had been introducing “unprecedented competitive capacity” into the market.
