Air New Zealand Confident over Tackling Increased Fuel Prices
If oil prices go higher, even due to tension over a probable attack on Syria, higher fuel prices could be easily dealt with, said Air New Zealand, recently.
The reason behind the same, seemingly, is the highest net profit noted by the airline in past five years. The company told that its shares have seen a leap of 4.4%, touching $1.43 in early trading.
It has been found that the prospects of an air strike led by America on Syria drove prices of oil to a six-month high.
Chairman John Palmer was of the opinion that the stance was being seen due to conditions. The global situation probably alarmed the business on market demand as well as fuel prices. Also, the world was no more impervious to continuing crises.
However, the profit of $182 million, without a doubt, had shown that the business was running smoothly. The present year is being expected to prove better for the business.
In the words of chief executive Christopher Luxon, the company had substantial hedging in effect for this year's fuel.
"Fuel will be what fuel will be but we've learned to run our business around that. Our hedging policies allow us time to change to changing circumstances", Luxon was quoted as saying.
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