An Air New Zealand Plane Flies Over Mount Victoria
IN PHOTO: An Air New Zealand plane flies over houses in Mount Victoria as it approaches Wellington airport, October 7, 2011. Reuters/Marcos Brindicci

Virgin Australia has reaped the benefits of its alliance with Air New Zealand as earnings performance showed a NZ$31 million profit for the airline in the year to June and a 3 percent increase in revenue at NZ$274 million. According to accounts filed in Australia, the airline's operations in New Zealand had boosted its earnings in routes going to and across the Tasman.

The airline said its subsidiary in New Zealand had significantly improved in the last few years. While trans-Tasman routes remain competitive, a Virgin Australia spokesperson said the airline's performance in the market continues to improve as it works together with Air New Zealand, The Age reports.

Two major alliances have dominated the trans-Tasman routes. Virgin-Air New Zealand and Qantas-Emirates alliances fly almost 98 percent of the passengers between Australia and New Zealand.

Meanwhile, Air New Zealand plans to add two more Dreamliner jets to its fleet to reach a total of 12 Boeing 787-9s by the end of 2018. In a NZ Herald report, airline chief executive Christopher Luxon had announced the additional Dreamliners in an event in Sydney, Australia. He said the new investment was based on Air New Zealand's strong commercial performance. According to reports, the Dreamliner jet is a significant factor in the airline's growth strategy.

Air New Zealand has been hailed the world's best airline in the Airline Excellence Awards 2015 for the second consecutive year. In its annual review of airlines, Airlineratings.com praised New Zealand's official carrier for its high standard of operation safety and best in-flight innovation. Air New Zealand outperformed larger airlines and luxury carriers.

Geoffrey Thomas, chief editor of Airlineratings.com, said Air New Zealand has soared to the top of the airline industry despite its smaller size compared to other international carriers. He described Air New Zealand as an "airline of first choice" and praised the airline's "extraordinary" performance given the New Zealand's size and location. The site also chose Air New Zealand as the best for its focus on the environment and motivated staff.

Air New Zealand chief executive Christopher Luxon said in a Daily Mail report that the airline will soon celebrate its 75th anniversary year with 11,000 employees around the world. Aside from winning Airline of the Year, Air New Zealand was also awarded the Best Premium Economy Class. Virgin Australia was named Best New World Carrier and Best Cabin Crew. The International Civil Aviation Organisation endorses Australia-based Airlineratings.com as the site evaluates the safety and in-flight amenities of 450 airlines.