From the Ashes

Air NZ was announced the winner of Air Transport World magazine’s annual Phoenix Award in January. The award is given to an airline which “achieves a commercial rebirth through a life-changing transformation.” After its “near-death experience” in 2001, Air NZ has made combined yearly profits of $331 million in its last two financial years, as well as a 10% rise in profit before unusual items and tax for the year to June 30, 2004.