Airways New Zealand - the sole air traffic control (ATC) company for the country - posted annual results for the year ending June 30, 2024.
The company reported a net operating profit after tax of NZ$14.5 million ($9 million). The company said this was NZ$3.9 million ($2.4 million).
It managed around 491,449 flights throughout the year. It added that it reported "no serious air proximity events attributable to air traffic control".
"This includes enabling operations for returning carriers and new routes, in addition to supporting emerging entrants in our skies and the ever-growing uncrewed aerial vehicle (UAV) sector," said the company's board chair Denise Church.
The company said a dividend of NZ$20 million to its government shareholder.
"The dividend reflects a return of both profits and equity funds provided by our shareholder to support Airways’ business as the wider industry was recovering from the effects of ongoing COVID-19 disruption," added Church.
With softening domestic and international demand, the company said it expects this to present a more challenging fiscal environment for the next financial year.
In addition, air traffic volumes are around 10% lower than 2019 levels due to a slower recovery in the domestic market. It expects domestic air travel to be 93% of 2019 volumes in full year 2025 and international traffic at 84%.