Air New Zealand returns to profit in FY23 with cash flow of $937 million

Air New Zealand returned to profit reporting net profit of $412 million for financial year 2023 (FY23) ending in June 30.  The airline closed the FY23 with total revenue of $6.330 billion, up from $2.734 billion in FY22. The airline’s passenger revenue amounted to $5.349 billion versus $1.476 billion, cargo revenues dropped to $628 million from $1.016 billion while revenue from contract services were slightly higher to $133 million from $117 million. The airline’s overall revenue per available seat kilometer (RASK) excluding fuel improved to 15.5 cents, up from 13.9 cents. Air New Zealand reported an operating expanse of $5.044 billion