KEY POINTS:
Air New Zealand's decision in July to pull out of routes to Singapore appears to be paying off.
The airline's load factor - the percentage of seats filled - was up 1.1 per cent to 74 per cent in October compared with the same month last year.
Goldman Sachs JB Were analyst Marcus Curly said it appeared "at this stage" that Air New Zealand's decision to withdraw from Singapore was the right one.
It was "positive" that load factors had increased slightly, even though capacity had been reduced, particularly on the international route, he said.
Group revenue from passengers for the month was $4 billion, up 0.8 per cent on the previous October.
Air New Zealand's yield trend was consistent with what it had reported in the past, said Curly.
The airline will also reduce seat capacity on the transtasman route by 11 per cent from April.
Air New Zealand shares closed up 1c to $1.72 on Friday.
