Air New Zealand swings back into the black

WELLINGTON: Air New Zealand swung back into profit in the first half of its current financial year as it benefited from lower costs, a surging kiwi dollar and a major revamp after its near-collapse in 2001. 

The majority state-owned airline said yesterday it was on track to meet its full-year profit forecast, but warned that bookings were down 10% for March and the possibility of war in Iraq and global terrorism had cast a pall over the outlook.