KEY POINTS:
Air New Zealand said today online sales had surpassed $1 billion in a financial year for the first time.
It had budgeted for $1 billion of sales in the year to June but had passed the mark nearly a month early.
"Online bookings have grown exponentially in the past four years, since Air New Zealand's development of a home-grown booking engine that has transformed the way customers use its sites," the airline said.
Online sales had grown nearly seven times in just four years.
The state-controlled airline's website has an average 100,000 hits per day. Visits have been boosted recently by the airline's grab-a-seat promotion where tickets to selected destinations are sold well below regular prices.
A Mother's Day special last month generated a record $7.5 million in sales over 24 hours.
Air New Zealand shares have had a spectacular ascent in the last year, climbing from $1.20 last June 6 to a five year high of $3.10 this week.
That rise has seen the Government's 76.3 per cent stake rise in value from $960 million to $2.5 billion.
The Crown's original investment in 2001 cost $892m and in December 2004 it participated in a one-for-six rights issue at a cost of $149m.
In addition to the unrealised capital gain, the Government has received $230m in dividends since it made its investment in 2001.
- NZPA
