Air navigation services provider Airways New Zealand recorded an after tax profit of NZ$6.7 million ($3.8 million) for the first half of the fiscal year.
The company said the result was NZ$500,000 ($280,300) ahead of its budget, adding that it was driven by lower depreciation, equipment costs, and professional services expenses.
The company managed 242,538 flight movements during the period.
Air traffic services revenue for the half year was impacted by fewer flight movements, driven by challenges faced by airlines, including engine and servicing issues. While headwinds are expected to persist, core revenue is anticipated to recover through the second half of the year and Airways remains on track to achieve its budgeted group profit for the full year.
"The steady interim result reflects our continued focus on operational excellence and efficient cost management," said Airways chair Denise Church. “As the aviation industry continues to navigate a challenging environment, Airways remains committed to managing costs appropriately, maintaining our high safety standards and advancing our strategic objectives.”