AIR New Zealand has reported
large half-year pre-tax losses of £104.4 million mainly caused by the cost of
its separation from Australian subsidiary Ansett, which recently folded.
Its net earnings after tax
involved a loss of £21.36 million compounded by the additional loss of £85
million in post-tax unusual items, namely the cost of its separation from
Ansett. But its passenger load factors increased from a low of 70% in October
to 77% in January 2002.