KEY POINTS:
State-owned air traffic controller Airways New Zealand has reported a net profit after tax of $10.6 million in the year to June 30, up from $6.86 million in the same period last year.
The company said the increase was achieved in a difficult environment with high fuel prices and the US credit crunch affecting its clients. Airways had revenue of $139 million, of which $121 million came from airways charges.
The company paid $6 million in dividends to the Government and a $2 million rebate to customers.
Airways chief executive Ashley Smout said a key issue was ensuring that the company had enough trained staff.
"There is a high demand for air traffic controllers globally and particularly in the Middle East ... ," he said.
Airways has completed an 18-month project to upgrade landing systems at Auckland International Airport.
"The new low visibility approach keeps New Zealand's main international gateway open when air traffic is disrupted due to fog," Airways said.
- NZPA
