Air New Zealand (ASX:AIR) has seen its shares rise by as much as 3.3%, equivalent to NZ$0.79, marking the most significant intraday percentage gain since last December.

The stock hit its highest level since August 2nd.

The flagship carrier of New Zealand reported its full-year earnings before tax and significant other items, amounting to NZ$585 million ($349.54 million), a significant rebound from a loss in the previous year.

Air New Zealand (ASX:AIR) also announced a special dividend of 6 New Zealand cents per share, the first one since February 2020, while expressing expectations of robust customer demand for the financial year 2024.

The stock has shown positive momentum this year, having risen by 2.7% as of the last closure.

Air New Zealand (ASX:AIR) is New Zealand’s flagship airline conducting both domestic and international passenger flights and freight services.