Airways - Making your world possible

Strong year characterised by growth and transformation

28 Aug 2013

What is the QTE?

Airways’ strong net operating profit after tax (NOPAT) of $21.7 million was largely the result of a one-off financial transaction, the termination of a cross border lease. It resulted in the release of deferred income of $18.8 million and an increase to NOPAT of $12.8 million.

The cross border lease was a type of Qualifying Technological Equipment (QTE) lease.  In simple terms, the lease involved the sale and leaseback of equipment and was entered into by Airways in the early 2000s.  In 2012, Airways took advantage of highly favourable interest and exchange rates to negotiate the early termination of the lease at a significant profit to Airways.  The financial benefit Airways gained from exiting the lease has been invested back into capital works to benefit our customers the airlines, the airports and travellers.

For further information:

Philippa Sellens
Head of Communications and Corporate Relations
Mobile: + 64 21 438 243
Ph: + 64 4 471 4706

About Airways

  • Airways is a world-leading commercial Air Navigation Service Provider (ANSP), and operates in New Zealand as a State-Owned Enterprise (SOE).

  • We look after key aviation infrastructure around New Zealand and manage the more than 1 million traffic movements per year into and around New Zealand’s 30 million sq km of airspace, which is 7% of the world’s total.

  • Airways provides air traffic control and engineering training, and has delivered air traffic management, Flightyield revenue management solutions, navigation services and consultancy in more than 65 countries.

  • For more information about Airways please visit