As MAS looks to contract its way out of trouble and Ryanair hopes to gain a foothold in the Eastern Mediterranean, all eyes today turned to Air New Zealand (ANZ) which has posted a huge 45% increase in net profit for the year and also forecast continued strong growth in the current financial year amid rising demand and reducing fuel prices. ANZ net profit for the 12 months to June 30 was NZ$262m ($218 million), up from NZ$181m the year before. All this on the back of operating revenue rising just 1% to NZ$4.7bn, earnings before tax were up 30%

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