Air New Zealand Limited (NS) Analysis

Overview

At Air New Zealand we provide world-class air passenger and cargo services to, from and within New Zealand. We operate one of the most comprehensive domestic and regional networks in the world, flying to 20 destinations across New Zealand, offering more than 400 flights every day.

Internationally, our strategic focus and competitive advantage lie within the Pacific Rim where our network reach extends from New Zealand into Australia, the Pacific Islands, Asia and North America. Alongside key global alliance partners, including United Airlines, Singapore Airlines, Cathay Pacific and Air China, we connect New Zealand to more than 600 destinations worldwide.

Our network serves more than 16 million passengers every year and is operated by a fleet of more than 100 aircraft and over 11,000 employees globally.

Our Airpoints™ loyalty programme is considered the premier loyalty programme in New Zealand and provides members with an easy and transparent currency - Airpoints Dollars™. Members earn points by travelling with the airline and spending at retail partners. With over four and a half million members, Airpoints provides us with unique data points that help us understand our customers and their travel needs.

Our simplified and modern fleet consists of fuel-efficient aircraft, across a small number of aircraft types, which provides the airline with a competitive cost structure and greater operational efficiencies.

We maintain a disciplined approach to capital allocation supported by our Capital Management Framework, which enables us to balance capital allocation decisions between re-investment in the business, our sustainability ambitions and returns to shareholders over the long-term.

We have a credit rating of Baa1 from Moody's, with a stable outlook, making us one of the top investment-grade rated airlines in the world.

Find out more about Air New Zealand

• Board
• Executive management team
• Corporate governance
• Board committees and charters
• Corporate and social responsibility policies
• Investor centre

Performance

The following information was extracted from Air New Zealand's Half Year results, released on 20 February 2025:

Summary

• Earnings before taxation of $155 million
• Net profit after taxation of $106 million
• Network capacity down 4 percent, with up to 5 narrowbody and 3 widebody jets grounded due to additional global engine maintenance requirements
• Unimputed interim ordinary dividend of 1.25 cents per share declared
• Share buy-back of up to $100 million announced

Air New Zealand has today announced earnings before taxation of $155 million for the first half of the 2025 financial year, achieving a result at the upper end of the guidance range provided to the market in November 2024. Net profit after taxation was $106 million.

Chair Dame Therese Walsh said the result highlights the airline’s resilience and adaptability, amid a continuation of significant operational and economic headwinds that have persisted since the second half of the 2024 financial year.