It is fitting in the year GE Aviation celebrates its centenary, that the global giant also has reason to celebrate an engine deal worth close to half a billion dollars that extends its already impressive reach within the Asia Pacific.

Based on the Air New Zealand annual shareholder meeting, it appears the travelling public's confidence in aircraft and engine manufacturing has been somewhat shaken in light of recent events.

Air New Zealand has reported a 30 per cent decline in net profit for 2018/19 amid what the company described as a lower growth environment.

Air New Zealand says a permanent replacement for outgoing chief executive Christopher Luxon may not commence in the role until first quarter of 2020.