Air New Zealand
The airline recently added routes to Houston, Argentina and Vietnam.

Air New Zealand released its earnings report on Friday which outlined a 42 percent growth of full year net profit.

According to the company, its net profit for the 12 months ended in June 30 reached 463 million New Zealand dollars ($336 million), from NZ $327 million in the previous year. Earnings before other exceptional items and taxation were at NZ $806 million, an increase of 70 percent compared to the year previous. Operating revenue for the period increased by 6.2 percent up to NZ $5.2 billion.

Final dividends for the company were increase by 10 NZ cents per share.

Helping the company was an increase in foreign tourists coming into the country with a total of 3.3 million which is an 11 percent increase from the year previous.

According to Air New Zealand Chief Executive Christopher Luxon, the results were the best in the 76 years of the company’s existence in the industry.

Competition will still have an uncertain impact on the company. With the current conditions in the market, earnings before taxation for the financial year ending in 2017 is expected to be in the range of NZ $400 million to NZ $600 million.

Increase in competition is due to the increasing tourism in the South Pacific nation and lower fuel costs, which makes the country a more feasible destination for competitors.

Air New Zealand recently added routes to Houston, Argentina and Vietnam.

8,200 employees of the company will be receiving a special performance bonus of NZ $2,500 each.

At the end of Friday’s trading, Air New Zealand’s price was at NZ $2.22.