Air New Zealand Investor Update (Op Stats) - June 2025

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


June 2025 Commentary
• Group capacity was down 0.7% in June compared to the same month last year. Long Haul
ASKs decreased 1.3%, Domestic ASKs decreased 0.5%, and Short Haul International ASKs
increased 0.4% 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 1.9% compared to the prior year.
• Short Haul YTD RASK, which includes the Domestic, Tasman and Pacific islands networks
improved 0.9% compared to last year.
• Long-haul YTD RASK improved by 2.0% compared to last year.












8 August 2025

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June 2025 highlights











Group traffic summary
JUNEFINANCIAL YTD
FY25FY24
%
1, 2
20252024
%
1
Passengers carried (000)1,4261,428(0.2%)15,90716,460(3.4%)
Revenue Passenger Kilometres(m)3,1153,0502.1%33,76934,285(1.5%)
Available Seat Kilometres (m)3,7743,800(0.7%)40,50142,067(3.7%)
Passenger Load Factor (%)82.5%80.2%2.3 pts83.4%81.5%1.9 pts
Year-to-date RASK
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vs 2024vs 2024
vs 2024
Gro up2.3%1.9%2.9%
Sho rt Haul1.2%0.9%1.6%
Long Haul2.5%2.0%4.0%
% change in reported RASK
(incl. FX)
% change in reported RASK
(excl. FX)
% change in reported RASK
(excl. FX and Travel Credit
Breakage)
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4
2024 included $90 million of travel credit breakage, while for 2025 $35 million has
been recognised
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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


GroupJUNEFINANCIAL YTD
FY25FY24
%
1, 2
20252024
%
1
Passengers carried (000)1,4261,428(0.2%)15,90716,460(3.4%)
Revenue Passenger Kilometres(m)
3,1153,0502.1%33,76934,285(1.5%)
Available Seat Kilometres (m)3,7743,800(0.7%)40,50142,067(3.7%)
Passenger Load Factor (%)82.5%80.2%2.3 pts83.4%81.5%1.9 pts
Short Haul T otalJUNEFINANCIAL YTD
FY25FY24
%
1, 2
20252024
%
1
Passengers carried (000)1,2431,249(0.5%)13,98214,532(3.8%)
Revenue Passenger Kilometres(m)1,3791,3393.0%15,36615,402(0.2%)
Available Seat Kilometres (m)1,6331,6320.1%17,97118,275(1.7%)
Passenger Load Factor (%)84.4%82.0%2.4 pts85.5%84.3%1.2 pts
DomesticJUNEFINANCIAL YTD
FY25FY24
%
1, 2
20252024
%
1
Passengers carried (000)891914(2.5%)10,14210,721(5.4%)
Revenue Passenger Kilometres(m)
457465(1.7%)5,3115,571(4.7%)
Available Seat Kilometres (m)587590(0.5%)6,4096,620(3.2%)
Passenger Load Factor (%)77.8%78.8%(1.0 pts)82.9%84.2%(1.3 pts)
Tasman / PacificJUNEFINANCIAL YTD
FY25FY24
%
1, 2
20252024
%
1
Passengers carried (000)3523355.0%3,8403,8110.8%
Revenue Passenger Kilometres(m)9228745.5%10,0559,8312.3%
Available Seat Kilometres (m)1,0461,0420.4%11,56211,655(0.8%)
Passenger Load Factor (%)88.1%83.9%4.2 pts87.0%84.3%2.7 pts
Long Haul T otalJUNEFINANCIAL YTD
FY25FY24
%
1, 2
20252024
%
1
Passengers carried (000)1831792.1%1,9251,928(0.1%)
Revenue Passenger Kilometres(m)1,7361,7111.4%18,40318,883(2.5%)
Available Seat Kilometres (m)2,1412,168(1.3%)22,53023,792(5.3%)
Passenger Load Factor (%)81.1%78.9%2.2 pts81.7%79.4%2.3 pts
AsiaJUNEFINANCIAL YTD
FY25FY24
%
1, 2
20252024
%
1
Passengers carried (000)105996.4%1,1011,0267.3%
Revenue Passenger Kilometres(m)8848326.2%9,4628,9675.5%
Available Seat Kilometres (m)1,1081,0782.8%11,46410,9115.1%
Passenger Load Factor (%)79.7%77.2%2.5 pts82.5%82.2%0.3 pts
Americas JUNEFINANCIAL YTD
FY25FY24
%
1, 2
20252024
%
1
Passengers carried (000)7880(3.1%)824902(8.7%)
Revenue Passenger Kilometres(m)852879(3.1%)8,9419,916(9.8%)
Available Seat Kilometres (m)1,0331,090(5.2%)11,06612,881(14.1%)
Passenger Load Factor (%)82.5%80.6%1.9 pts80.8%77.0%3.8 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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Market announcements
(during the period 4 July 2025 to 7 August 2025)
Air New Zealand appoints Nikhil Ravishankar as 30 July 2025
next Chief Executive Officer


Air New Zealand has announced the appointment of Nikhil Ravishankar as its next Chief Executive Officer,
succeeding Greg Foran who steps down in October after almost six years leading the airline through one of
the most challenging periods in aviation history.
Currently the airline's Chief Digital Officer, Nikhil will officially take over as CEO on 20 October 2025. In the
nearly five years that Nikhil has been at Air New Zealand he has gained a deep understanding of the
aviation sector, and the airline. He has also led major advances in the airline's technology backbone, loyalty
programme and customer proposition.
Air New Zealand Board Chair, Dame Therese Walsh, says the appointment marks the beginning of the next
chapter for the airline, reflecting the strong momentum underway and a new generation of leadership for the
future.
"Across Air New Zealand we are very clear on what matters most - connecting our communities and country
to each other and the world, delivering value and excellence, and running a world-class airline that all Kiwi
are proud of.
"We have always been bold and not afraid to adapt and lead. Nikhil brings the mindset and contemporary
leadership we need to build on our strong foundations and focus on the future. The Board undertook an
extensive international search and were delighted to see Nikhil come through the process so strongly. His
ambition for the airline's future and his people leadership skills, coupled with his pursuit of excellence, digital
literacy, global outlook and relationships, and his deep care for the airline and New Zealand shone through.
"Airlines will continue to face immense challenges, whether that's climate change, customer expectations,
technology, cost pressures or geopolitics. Nikhil brings a fresh perspective that is grounded in New Zealand
values and a deep knowledge of the airline and critical infrastructure across different sectors. He's not afraid
to challenge how things are done and ask questions," says Dame Therese Walsh.
Prior to Air New Zealand, Nikhil was Chief Digital Officer at Vector and Managing Director of Accenture.
"I'm both thrilled and humbled to be given this opportunity to lead Air New Zealand," says Nikhil. "This
airline is an institution with a deep legacy but also a fantastic future. It's a privilege to step into the CEO role
and take on that responsibility for our people, our customers, and our country.
"Airlines are complex, and safety underpins every decision we make. I truly believe that New Zealand is one
of the most innovative nations in the world and one of the greatest destinations to visit. Our airline is
amongst the very best and I get to work with some of the most dedicated people in the country, from our
cabin crew, engineers and pilots to our ground teams, corporate and digital teams behind the scenes. At the
end of the day, we are a people business – purposeful, ambitious, and deeply rooted in Aotearoa New
Zealand, and I'm excited to help shape what this next stage of Air New Zealand looks like," says Nikhil
Ravishankar.

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Air New Zealand 2025 Annual Results Webcast Details 23 July 2025

Air New Zealand’s 2025 Annual Results will be announced before NZX trading begins on Thursday 28 August
2025.

A conference call for investors and analysts will be hosted by Greg Foran (Chief Executive Officer) and
Richard Thomson (Chief Financial Officer) at 10:00 am NZST on the same day and can be accessed in the
following ways:

1. Live via webcast: Click here for a link to the investor and analyst webcast.

2. Live via telephone (for “listen-only” participants and those who would like to ask a question):

Conference link: Please click here for a link to the conference call.

Please register in advance of the conference using the link provided above. Upon registering, you will be
provided with participant dial-in numbers, Direct Event passcode and unique registrant ID.

3. Replay via webcast – will be accessible through the results section of the Investor Centre on Air New
Zealand's website: https://www.airnewzealand.co.nz/investor-centre


Annual Meeting and Nomination of Directors 11 July 2025

Annual Meeting

Air New Zealand Limited’s Annual Shareholders' Meeting will be held in Auckland on Thursday 25 September
2025 at The Cloud, 89 Quay Street, Auckland Central.

In additional to the physical meeting, Air New Zealand will also offer shareholders the choice to attend and
participate in the meeting via an online platform.

The Notice of Meeting (which will be emailed or sent to shareholders after the 2025 Annual Results to be
released on Thursday 28 August 2025) will contain details of how to participate online.

Nomination of Directors

Air New Zealand advises that the period for nominations for the position of director opens today and will close
at 5.00pm on Thursday 24 July 2025.

Nominations must be:
(a) made in writing;
(b) may only be made by a security holder entitled to attend and vote at the Annual Meeting;
(c) accompanied by the written consent of the person being nominated as well as their brief biographical
details (for inclusion in the Notice of Meeting); and
(d) be addressed to the Company Secretary at Air New Zealand, Private Bag 92007, Auckland 1142.

This announcement is made pursuant to Listing Rule 2.3.2.

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Media Releases
(during the period 4 July 2025 to 7 August 2025)

Backing our backyard: Air New Zealand launches Regional Event 29 July 2025
Sponsorship programme

Air New Zealand is backing the bold, the brave and the brilliantly local, with a new programme set to showcase
our nation's regions one event at a time.
The airline has today launched the Air New Zealand Regional Event Sponsorship programme, designed to
support and scale up new and emerging events in each of the 20 regions it flies to.
The new initiative aims to support and promote domestic travel right across the motu, as well as support the
collective effort to keep building New Zealand's event calendar, particularly during shoulder and off-peak
seasons.
Air New Zealand's Chief Sustainability and Corporate Affairs Officer Kiri Hannifin says the airline is proud to
play a part in backing regional creativity and ambition.
"Our goal is simple. We want to back brilliant local events that deserve the spotlight. These events not only
celebrate the spirit of their regions, but they also give people another reason to visit, explore, and stay a
little longer. Events like the Hokitika Wild Foods Festival are a perfect example – authentically local, proudly
unique, and unforgettable. We want to help create more of these all over the country. The kind of events
that bring communities together and showcase the best of Aotearoa."
Working in partnership with regional tourism organisations (RTOs), the sponsorship programme will support
events in regions across the country. These events may be focussed on sport, arts and culture, food and
wine, music, heritage or nature. The airline is backing events that regions across Aotearoa are proud to
showcase – helping them draw more visitors, extend their reach, and grow their impact.
Support will be tailored to each region. From flights, to marketing and promotional activity, or investment,
the selected events will receive a three-year commitment, offering certainty and room to grow.
To kick things off, Air New Zealand is launching the programme with support for two standout events:
• The Spectacle (Nelson) – An unforgettable running festival in Whakatū Nelson, uniquely uniting the
high-octane energy of inner-city road running with the adventure of trail running, showcasing events
from the mile to the 100 mile.
• Hamilton Arts Festival Toi Ora ki Kirikiriroa (Hamilton) – A stunning programme of performing arts,
showcasing local talent and creating unforgettable moments in the award-winning Hamilton
Gardens and across the city's venues and open spaces.
By working with RTOs, who know their regions best, and complementing investment made by Government
in regional events, Air New Zealand is ensuring this initiative boosts existing efforts to develop sustainable,
long-term event strategies across Aotearoa.
Tourism and Hospitality Minister Louise Upston was thrilled with the initiative to encourage more visitors out
to the regions.

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"We've been laser-focused on growing tourism in New Zealand and one way to do this is to encourage
people to explore beyond the main tourist centres.

"It means more visitors spending money in local cafes, businesses and accommodation providers, driving
economic activity in our regions."
Transport and South Island Minister James Meager added, "This programme is a win for New Zealand's
regions. I welcome all efforts to encourage greater domestic travel and connectivity.
"This sponsorship will help give regions a boost to its visitor numbers – which we know will bring positive
flow-on effects for the local economy – and aid our overarching goal of economic growth nationwide."
The airline will prioritise events that are new or emerging, help stimulate visitation outside peak periods, and
align with the principles of sustainable tourism and the Tiaki Promise. The goal is to support events that
create value not just for visitors, but for the communities that host them.
"This is just the beginning. Air New Zealand will continue to roll out support across Aotearoa, with more
regions set to benefit from the programme in the coming months," says Hannifin.
Event operators in Aotearoa can find out more about how to apply by contacting their local RTO directly.

Air New Zealand unveils plans for new flagship Koru Lounge at 28 July 2025
Auckland International Airport

Air New Zealand is revealing plans for its new flagship Air New Zealand Koru Lounge at Auckland
International Airport.
Set to become the most spacious lounge in the airline's network, the footprint of the overall space will nearly
double, and will incorporate two lounges: a separate space for Airpoints Elite and Business Premier
customers, and the second for Airpoints Gold, Star Alliance Gold, Airpoints Silver and Koru members.
Air New Zealand CEO Greg Foran says the new lounges will deliver an experience designed to enhance
customers' journeys and a fresh new look and feel inspired by the best of Aotearoa.
"We've designed our new lounges around what our customers told us matters most - more space, more
seating, and the ability to choose how they spend their time.
"Across both lounges, total seating capacity will increase by 70 per cent, providing a significant boost in
comfort and capacity for international travellers passing through Auckland."
Throughout the lounges, areas designed to cater to a diverse range of travellers will be introduced.
"We know our customers value having spaces that are suited to their travel needs, whether that be a quiet
business area that allows focus, room for families to play before jumping onboard a flight or a social space
to enjoy a coffee before departure," Foran says.
The new interiors will celebrate the beautiful sights and textures of Aotearoa, brought to life through colours,
materials, furnishings, and carefully curated lighting and art.

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Construction is planned to begin in early 2026 and will take place in two phases. The current lounge will
remain open with reduced capacity while work is completed on the new lounge for Airpoints Elite and
Business Premier customers. Once the new lounge is open, the current lounge will be redeveloped and is
expected to open by late 2027.

Throughout construction, customers will continue to be accommodated across different lounge spaces.
Details of these spaces will be shared ahead of time and on the day of travel through the Air NZ app.

Air New Zealand enters new era of AI adoption with OpenAI 24 July 2025
in a New Zealand first

Air New Zealand is working with OpenAI in a first-of-its -kind collaboration in Aotearoa to expand the use of
artificial intelligence (AI) across the airline, aiming to boost efficiency and enhance customer outcomes.
Air New Zealand is working with OpenAI in a first-of-its -kind collaboration in Aotearoa to expand the
use of artificial intelligence (AI) across the airline, aiming to boost efficiency and enhance customer
outcomes.
The national carrier is part of a group of early OpenAI customers in Asia Pacific that will collaborate
with the AI leader at the forefront of enterprise AI adoption.
As part of the collaboration, Air New Zealand will gain direct access to OpenAI technologies to develop
and apply use cases, and equip its people across corporate roles with secure, enterprise-grade AI
tools.
Early areas of exploration include improving customer self-service experiences and enabling safe,
responsible integrated planning across airline maintenance and operations. Air New Zealand is also
looking into how data-driven insights can help employees make smarter, more informed operational
decisions.
The agreement gives Companion AI – Air New Zealand's deployment of ChatGPT Enterprise – to all
3,500 corporate team members across the airline. Additionally, Air New Zealand will also invest in
developing innovative new solutions using OpenAI APIs to enhance both customer and employee
experiences with Generative AI.
Implementation of OpenAI's technology is already underway, driving smarter, faster decisions and
creating lasting value for the Air New Zealand team and its customers.
Air New Zealand Chief Digital Officer Nikhil Ravishankar says the collaboration marks a major
milestone in the airline's digital journey.
"We see AI as an opportunity for our team at Air New Zealand and a way to improve experiences for
our customers. It helps us solve problems faster, serve our customers better, and reimagine how work
gets done. By working directly with OpenAI, we not only access leading-edge technology but we also
shape how it's used in the real world.
"This collaboration represents more than just access to new tools – it's a commitment to staying at the
forefront of innovation and giving our people the best technology to thrive. We're excited to see how AI
will transform the way we work."

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"Air New Zealand is taking meaningful steps to bring AI across key parts of its business using
OpenAI's technology. We have been particularly impressed with how quickly they have built over 1,500
Custom GPTs to introduce efficiencies to internal workflows.Their focus on innovation and
responsibility shows how the aviation sector can adopt advanced tools in practical ways that deliver
value for both employees and customers", Oliver Jay, Managing Director of International at OpenAI,
added.
A Custom GPT in ChatGPT allows anyone – developers, teams, or enterprises – to create tailored AI
assistants using GPT models. It enables users to define the AI's personality, tone, and specialised
knowledge base, and integrate proprietary data or workflows. This makes it possible to build AI
solutions for specific industries, company needs, or creative applications without requiring advanced
coding expertise.
Throughout this journey, Air New Zealand remains deeply committed to the responsible and ethical
use of AI, ensuring that innovation is aligned with strong governance, transparency, and care for
customers and employees.

Got a dream? Air New Zealand launches national search 8 July 2025
for New Zealand's big dreamers

Air New Zealand is backing the passion, drive, and ambition of New Zealanders with the launch of Dream
Seats, a nationwide search designed to help Kiwi take the next step toward their dream.
Launching today, Dream Seats will kick off with an initial commitment of giving over 100 New Zealanders
the opportunity to move closer to achieving their dreams, by giving them flights to support their journey.
Within Aotearoa or around the world, Air New Zealand aims to bring big ambitions closer to reality.
Air New Zealand Chief Executive Greg Foran says dreaming big is part of Kiwi DNA and the airline wants to
help some of these dreams take off.
"At Air New Zealand, we've always believed in the potential of New Zealanders to make a positive impact
both at home in Aotearoa and globally. Dream Seats is an extension of that belief, a way for us to support
those who are already striving and just need that extra lift to take their dream further.
"Whether it's sport, business, science or the arts, Aotearoa is full of remarkable people doing incredible
things. We're proud to play a small part in helping more of them go further. This is not a one-off campaign,
it's part of our enduring commitment to champion Kiwi success, here at home and on the global stage."
To help bring those dreams to life, high-profile Kiwi have joined the search including:
• Ryan Fox, NZ golfing legend and two-time PGA Tour winner
• Dame Valerie Adams, two-time Olympic gold medalist
• Shaun Johnson, professional rugby league player and podcast host
• Josh Emett, chef, and entrepreneur
• Simran Kaur, financial educator, and podcast host
• Tom Sainsbury, comedian, writer, and performer
Each ambassador will personally award two Dream Seats to standout applicants and provide mentoring to
support their journey forward.
"I left New Zealand with a one-way ticket to London and a dream of making it in the food world," says Josh
Emett. "I worked in some of the toughest kitchens and eventually earned a place in Gordon Ramsay's team.

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I know how powerful it is when someone backs your potential and now, I want to do the same for another
Kiwi. I'll be looking for someone who's already put in the work and just needs that extra push to go further."
Air New Zealand is also proud to have the support of NBA star Steven Adams, whose impact on and off the
court continues to inspire New Zealanders to dream big.
Applications are now open at dreamseats.co.nz, where New Zealanders can share their story and explain
how a Dream Seat could help them build momentum toward something bigger.
"This isn't about granting wishes," adds Foran. "It's about backing New Zealanders who are already doing
the hard work and helping them take the next step, not just in their journey, but in their lives."