Air New Zealand Investor Update (Op Stats) – May 2025

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Contents
• May 2025 traffic highlights and commentary
• Operating statistics table
• Recent media releases


May 2025 Commentary
• Group capacity was down 2.7% in May compared to the same month last year. Long Haul
ASKs decreased 2.2%, Domestic ASKs decreased 5.5%, and Short Haul International ASKs
decreased 2.2% compared to last year. Capacity reductions in both the month and YTD
periods are driven by reduced aircraft availability from global additional engine maintenance
requirements.
• Group YTD underlying RASK improved 2.0% compared to the prior year.
• Short Haul YTD RASK, which includes the Domestic, Tasman and Pacific islands networks
improved 0.4% compared to last year.
• Long-haul YTD RASK improved by 2.8% compared to last year.












4 July 2025

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May 2025 highlights











Group traffic summary
M AYFINANCIAL YTD
FY25FY24
%
1, 2
20252024
%
1, 2
Passengers carried (000)1,1391,
167(2.5%)14,48215,034(3.1%)
Revenue Passenger Kilometres(m)2,4342,4270.3%30,65531,237(1.3%)
Available Seat Kilometres (m)2,9673,
050(2.7%)36,72638,269(3.4%)
Passenger Load Factor (%)82.0%79.5%2.5 pts83.5%81.6%1.9 pts
Year-to-date RASK
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vs 2024vs 2024
Group2.3%2.
0%
Short Haul0.7%0.4%
Long Haul3.2%2.8%
% change in reported
RASK (incl. FX)
% change in reported
RASK (excl. FX)
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Reported RASK (unit passenger revenue per available seat kilometre) is inclusive of foreign currency impact, and underlying
RASK excludes foreign currency impact.
1
% change is based on numbers prior to rounding
2
The percentage movements have been adjusted on a daily weighted average basis. The adjustment takes into account the difference in
days for the accounting month of July 2023 (30 days) compared with July 2024 (28 days) and June 2024 (35 days) compared with June
2025 (36 days). This is because Air New Zealand operates on a 4,4,5 accounting calendar but closes the annual accounts on 30 June.

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Operating statistics table


GroupM AYFINANCIAL YTD
FY25FY24
%
1, 2
20252024
%
1, 2
Passengers carried (000)1,1391,167(
2.5%)14,48215,034(3.1%)
Revenue Passenger Kilometres(m)2,4342,4270.3%30,65531,237(1.3%)
Available Seat Kilometres (m)2,9673,050(2.7%)36,72638,269(3.4%)
Passenger Load Factor (%)82.0%79.5%2.
5 pts83.5%81.6%1.9 pts
Short Haul TotalM AYFINANCIAL YTD
FY25FY24
%
1, 2
20252024
%
1, 2
Passengers carried (000)9971,027(
3.0%)12,74013,284(3.5%)
Revenue Passenger Kilometres(m)
1,0901,0880.2%13,
98814,0650.1%
Available Seat Kilometres (m)1,2951,341(3.4%)16,33716,646(1.3%)
Passenger Load Factor (%)84.2%81.1%3.1 pts85.6%84.5%1.1 pts
DomesticM AYFINANCIAL YTD
FY25FY24
%
1, 2
20252024
%
1, 2
Passengers carried (000)725757(4.3%)9,2519,808(5.1%)
Revenue Passenger Kilometres(m)374386(2.9%)4,8545,109(4.4%)
Available Seat Kilometres (m)462489(
5.5%)5,8216,032(2.9%)
Passenger Load Factor (%)81.0%78.9%2.
1 pts83.4%84.7%(1.3 pts)
Tasman / PacificM AYFINANCIAL YTD
FY25FY24
%
1, 2
20252024
%
1, 2
Passengers carried (000)2722700.6%3,4893,4761.0%
Revenue Passenger Kilometres(m)
7167022.0%9,1348,9562.6%
Available Seat Kilometres (m)833852(2.2%)10,51610,614(0.3%)
Passenger Load Factor (%)86.0%82.4%3.
6 pts86.9%84.4%2.5 pts
Long Haul TotalM AYFINANCIAL YTD
FY25FY24
%
1, 2
20252024
%
1, 2
Passengers carried (000)1421401.2%1,7421,7500.1%
Revenue Passenger Kilometres(m)1,3441,3390.4%16,66717,172(2.4%)
Available Seat Kilometres (m)1,6721,709(
2.2%)20,38921,623(5.1%)
Passenger Load Factor (%)80.4%78.3%2.1 pts81.8%79.4%2.4 pts
As i aM AYFINANCIAL YTD
FY25FY24
%
1, 2
20252024
%
1, 2
Passengers carried (000)84805.0%9969288.0%
Revenue Passenger Kilometres(m)7176854.7%8,5788,1356.1%
Available Seat Kilometres (m)887900(
1.5%)10,3559,8326.0%
Passenger Load Factor (%)80.9%76.1%4.8 pts82.8%82.7%0.1 pts
Americas M AYFINANCIAL YTD
FY25FY24
%
1, 2
20252024
%
1, 2
Passengers carried (000)5860(3.9%)746822(8.7%)
Revenue Passenger Kilometres(m)627654(4.2%)8,0899,037(9.9%)
Available Seat Kilometres (m)785809(3.0%)10,03411,791(14.4%)
Passenger Load Factor (%)79.8%80.8%(1.0 pts)80.6%76.6%4.0 pts
1
% change is based on numbers prior to rounding
2
The percentage movements have been adjusted on a daily weighted average basis. The adjustment takes into account the difference in days for the accounting
month of July 2023 (30 days) compared with July 2024 (28 days) and June 2024 (35 days) compared with June 2025 (36 days). This is because Air New Zealand
operates on a 4,4,5 accounting calendar but closes the annual accounts on 30 June.
Air New Zealand operates primarily in one segment, its primary business being the transportation of passengers and cargo on an integrated network of scheduled
airline services to, from and within New Zealand. The following operational data and statistics is additional supplementary information only.

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Media Releases
(during the period 30 May 2025 to 3 July 2025)
Taking on the Tasman: 1.7 million Air New Zealand seats up for 24 June 2025
grabs across the ditch this summer

Air New Zealand is cranking up the capacity on its short haul routes, announcing an increase in seats across
the Tasman and to the Pacific Islands.
Between October 2025 and March 2026, the airline will operate 1.7 million seats between New Zealand and
Australia cementing its position as the largest trans-Tasman carrier.
The airline is adding 130,000 seats as a result of increased flight frequencies and the deployment of more
widebody aircraft on key routes. There will also be an uplift in premium seating to meet strong demand from
both business and leisure travellers.
Additionally, the airline will add over 25,000 extra seats to the Pacific Islands this summer, supporting
continued growth and connectivity across the region.
Across the season, Air New Zealand will add 8% more premium seats on its short haul network and it will
have up to 42 flights each week on widebody jets to Australia.
Air New Zealand Chief Commercial Officer Jeremy O’Brien says with demand growing, Air New Zealand is
upping the ante across the Tasman.
“With more aircraft back in service and demand heating up, we’re stepping up our services across the
Tasman. This isn’t just about flying more often. It’s about giving our customers better options, more comfort,
and more reasons to choose Air New Zealand. We’re expanding our premium offering and strengthening our
network across both Australia and the Pacific.
“Air New Zealand has a proud 85-year history of flying across the Tasman – our first flight to Sydney took off
in 1940 and we’re incredibly proud of that longevity. Our commitment to keeping New Zealand and Australia
connected is as strong as ever.
“We’re excited to see our new Christchurch–Adelaide route take off later this year, add 30,000 seats on our
Auckland-Perth route, celebrate 30 years of flying directly between Queenstown and Sydney in July, and to
keep delivering the uniquely Kiwi experience our customers love – on both sides of the ditch.”

Air New Zealand, Air China, and Tourism New Zealand announce 20 June 2025
strategic investment to boost Chinese travel demand to Aotearoa

In a step to further support the revitalisation of Chinese tourism to New Zealand, Air New Zealand, Air China,
and Tourism New Zealand have announced a partnership aimed at strengthening travel from China to New
Zealand.
The tripartite partnership will see nearly half a million NZD invested from the three organisations going toward
stimulating inbound tourism from China, in addition to Air New Zealand and Tourism New Zealand’s existing
investments in the market.

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Over the next 12 months, Air New Zealand will invest more than $700,000 in marketing through strategic
partnerships – an addition to the airline’s significant and ongoing marketing commitment in China.
The new funding will be used to support a marketing campaign to drive greater awareness of New Zealand
as a preferred destination for Chinese travellers. It is also an opportunity to highlight the longstanding alliance
between Air New Zealand and Air China launched in 2015, which has provided greater connectivity,
codeshare convenience, and a seamless customer experience for travellers between China and New
Zealand.
China is New Zealand's third largest source of international visitors, comprising around 8% of total visitor
arrivals. In the year to March 2025, 248,000 Chinese travellers visited New Zealand, up 18 per cent on the
prior year.
Air New Zealand Chief Executive Officer Greg Foran said the airline’s service between Shanghai and
Auckland are going from strength to strength.
"China is an incredibly important market for us, and we’re proud of the role our Shanghai service has played
in connecting people, cargo, and cultures over the past decade. This joint investment is an opportunity to
further stimulate travel demand to encourage growth in inbound tourism from China to New Zealand.
“We’re looking forward to having our brand-new cabins on our 787 aircraft flying to Shanghai on occasion,
offering Chinese customers the opportunity to be among the first to experience our enhanced onboard
experience. From October, we’ll see a 33% increase in premium seats on the Shanghai–Auckland route,
giving customers even more opportunity to travel with additional space and comfort to New Zealand."
This initiative reaffirms the strong commitment from both airlines and New Zealand’s tourism sector to support
economic recovery and reestablish vital people-to-people ties between the two nations.
Air New Zealand boosts long haul travel with more premium 12 June 2025
and North America seats this summer
Air New Zealand is turning up the volume on long haul travel from October 2025 to March 2026, with more
choice and comfort on key international routes.
Customers travelling to North America will have access to more than 34,000 additional seats, alongside a
boost of 20,500 premium seats across the wider long-haul network. The airline is also bringing up to seven
newly retrofitted 787 Dreamliners into service by the end of the year, offering a completely refreshed inflight
experience from nose to tail.
Overall, the airline will operate 8% more seats to the United States and Canada compared to the previous
year, including a 15% increase in premium seating.
With premium demand continuing to rise, Air New Zealand is delivering, with an additional 4,300 premium
seats on Asia services alone.
Air New Zealand Chief Commercial Officer Jeremy O'Brien says New Zealanders' desire for travel is strong,
and international visitor demand continues to grow.
“We’re seeing strong demand, including growing popularity of our premium cabins. Customers want a more
comfortable and seamless experience, and we are responding by increasing premium availability and growing
flight frequencies across our long-haul network.

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“As we move through the year, more of our newly retrofitted 787 aircraft will enter service, bringing a refreshed
experience to destinations such as San Francisco, Honolulu, Vancouver, and Shanghai. The feedback so far
has been fantastic, with customers loving the new seating — particularly the additional space and comfort in
premium cabins.
"With strong summer demand on the horizon, we are pleased to be offering even more options to our
customers, whether they are travelling for business, leisure, or reconnecting with friends and whānau.”
North America: More flights, more comfort
Customers heading to the United States and Canada later this year will spot additional flights added to key
routes and more opportunities to book in premium cabins:
• Auckland to Los Angeles will see 11–12 flights per week between December and March,
adding nearly 24,000 more seats than the same period last year (16% increase), including an
additional 6,800 premium seats.
• Auckland to Houston returns stronger this summer, with Air New Zealand adding 4,500 seats
between January and March.
• Auckland to Vancouver maintains up to seven services per week with the larger 777 added
to the schedule over the December to early February peak, just in time for the Canadian snow
season. Premium seating will increase by 25%, including a 30% increase in Premium
Economy and an 18% increase in Business Premier.
• Auckland to San Francisco will see 1,800 additional seats (3% increase) and 2,700 more
premium seats (21% increase), as daily services continue into mid-February and March
frequencies rise from five to six flights per week.
Asia: Premium growth and increased capacity

Customers flying to and from Asia will benefit from increased availability and schedule refinements this
summer, resulting in more premium seats to key destinations:
• Auckland to Taipei expands from three to four flights per week between December and
February, adding 11,800 seats (27% increase), timed to serve both the Christmas peak and
Chinese New Year travel.
• Auckland to Bali sees a 49% increase in premium seats (an additional 2,400 premium seats
on the route).
• Auckland to Hong Kong will see a 28% rise in premium seats, adding 3,700 Business
Premier and Premium Economy seats on the route.
• Auckland to Shanghai will see 35% more premium seats compared to the same period last
year.

Air New Zealand adds 36,000 seats to its domestic winter 3 June 2025
flying schedule

Air New Zealand is boosting capacity on its Auckland – Christchurch, Auckland – Queenstown, and
Auckland – Dunedin routes, providing thousands more seats to help keep Kiwi connected.

Between 28 June and 25 October, select services across the three routes will be operated by the larger
Airbus A321, adding more than 36,000 seats to the network at a time of strong seasonal demand.

This marks the airline’s second move to boost inter-island connectivity in under a week, following the launch
of Air New Zealand’s new jet service between Hamilton and Christchurch last week. Together, these

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additions reflect Air New Zealand’s continued focus on creating more choice and greater connectivity for
customers across Aotearoa.

Air New Zealand Chief Commercial Officer, Jeremy O’Brien says he’s thrilled to be able to connect more
customers with these additional seats over the busy winter season.

“Whether they’re heading back to university, to a special event, or to the slopes this winter, these seats will
mean more choice and opportunity to fly and more flexibility to plan travel around the moments that matter.

“This isn’t just about adding flights, it’s about supporting our regions. We’re committed to building
connectivity - supporting communities, tourism and trade – so more New Zealanders can thrive. That’s a
responsibility we carry with pride. Every seat we add is an investment in New Zealand’s future.

“We have a plan and some great momentum, so watch this space.”

O’Brien adds that the airline is focused on long-term, sustainable growth that benefits the whole country.

“Whether it's getting visitors to Central Otago’s ski fields, students to Dunedin’s lecture theatres, or whānau
home to Christchurch, we’re proud to play our part in connecting people and place.”


South to South: New Air New Zealand route to connect the 3 June 2025
South Island directly with South Australia
This summer, a brand-new non-stop route is landing between New Zealand’s South Island and South
Australia.
Air New Zealand will launch a seasonal Christchurch–Adelaide service, giving travellers a direct link between
two vibrant cities and opening the door to more trans-Tasman adventures, on sale from 10am tomorrow.
Starting 27 October 2025, the service will operate twice a week on Monday and Friday through to 27 March
2026*, with around 15,000 seats available for travellers to book across the season. Fares start at $340 one
way.
Operated by a narrowbody Airbus jet, the new route further strengthens Air New Zealand’s commitment to
growing connectivity across the Tasman and responding to strong demand for travel between Australia and
New Zealand’s South Island.
Air New Zealand Chief Executive Officer Greg Foran says the launch of this service marks another important
step in the airline’s growth strategy.
“We know there’s strong demand for direct services between the South Island and Australia – not just for Kiwi
travellers wanting to explore, but also to welcome more Australian tourists directly into the heart of the South
Island.
“This route gives South Islanders more choice and convenience when flying to Australia, and it makes it even
easier for Australians to access the incredible experiences New Zealand has to offer – from Queenstown and
Fiordland to our world-class food and wine regions.
“Air New Zealand is entering an exciting new era. It’s exciting to see growth in our short haul network, and
customers can expect more good news on increased services in the near future. We’re looking forward to
welcoming more travellers onboard this summer.”
Air New Zealand also operates between four and six weekly services between Auckland and Adelaide.
*Subject to Regulatory Approval

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The neo kids on the block: Air New Zealand to welcome 3 June 2025
two new international A321neo aircraft
Two new aircraft are winging their way to Aotearoa. Air New Zealand is preparing for the imminent arrival of
its newest Airbus A321neo, with the first aircraft expected to touch down on Kiwi soil tomorrow.
Each aircraft will complete a 19,342-kilometre journey to Auckland from the Airbus facility in Hamburg, with
stopovers in Muscat, Kuala Lumpur, and Cairns.
The A321neo are configured for flying to Australia and the Pacific islands and seat 214 passengers. The
aircraft represents the latest innovation in narrowbody jet technology, offering improved efficiency and
additional capacity to Air New Zealand’s fleet.
This news comes hot on the heels of the airline’s newly retrofitted 787-9 Dreamliners taking to the skies,
and follows the announcement of a new jet service connecting Hamilton and Christchurch – all part of the
airline’s ongoing investment in its network.
The first A321neo arrival, ZK-NNH, is due to enter service in the coming weeks. By the time the second
aircraft is flying in a couple of months, the two new additions will be contributing an additional 70,000 seats
to the Air New Zealand network each year.
Air New Zealand Chief Commercial Officer, Jeremy O’Brien, says the arrival of this new aircraft signals
continued momentum for the airline.
“These new A321neo are a clear sign we’re investing for the future – boosting our international network and
delivering more choice for customers. It’s about doing what we do best: connecting Kiwi to the world and
bringing visitors to our shores.
“We’re eagerly anticipating getting these aircraft in the skies. We can’t wait to share more soon about where
they will be flying. Watch this airspace.”
Plane spotters and aviation fans can expect a sleek new silhouette on the tarmac – and should keep their
eyes on the skies for its arrival at 6.45pm tomorrow, Wednesday 4 June. The second aircraft is due to arrive
in Aotearoa in late June.
These A321neo join Air New Zealand’s growing narrowbody fleet, which means with these additions, there
are nine internationally configured A321neo in the fleet.