Air New Zealand 2019 Databook

#CrazyAboutRugby

Air New Zealand Databook 2019
2
London
Los Angeles
Sydney
Melbourne
Samoa
Tonga
Fiji
Niue
Tahiti
Christchurch
Wellington
Auckland
Houston
Adelaide
Perth
Brisbane
Cairns
Queenstown
Rarotonga
San Francisco
Honolulu
Hong Kong
Shanghai
Taipei
Denpasar
Singapore
Sunshine Coast
Gold Coast
Buenos Aires
Osaka
Seoul
Vancouver
Chicago
New York
Beijing
Tokyo
Norfolk Island
New Caledonia
Air New Zealand Group
Key
Routes operated by Air New ZealandRoutes operated by Air New Zealand
Routes operated solely by alliance partnersRoutes operated solely by alliance partners
Routes commencing in the 2020 financial yearRoutes commencing in the 2020 financial year
Routes commencing in the 2021 financial yearRoutes commencing in the 2021 financial year
Kia ora
Air New Zealand Databook 2019
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Notes
Air New Zealand flew to Ho Chi Minh City up until Air New Zealand flew to Ho Chi Minh City up until
October 2018.October 2018.
Air New Zealand will operate the Christchurch to Air New Zealand will operate the Christchurch to
Singapore route from 1 December 2019 to 22 February Singapore route from 1 December 2019 to 22 February
2020. Singapore Airlines has been operating this 2020. Singapore Airlines has been operating this
seasonal service three times a week, in addition to seasonal service three times a week, in addition to
its daily service.its daily service.
Air New Zealand will commence services direct to New Air New Zealand will commence services direct to New
York from October 2020. At the same time, the airline York from October 2020. At the same time, the airline
will withdraw from its Los Angeles to London route.will withdraw from its Los Angeles to London route.

Air New Zealand Databook 2019
3
London
Los Angeles
Sydney
Melbourne
Samoa
Tonga
Fiji
Niue
Tahiti
Christchurch
Wellington
Auckland
Houston
Adelaide
Perth
Brisbane
Cairns
Queenstown
Rarotonga
San Francisco
Honolulu
Hong Kong
Shanghai
Taipei
Denpasar
Singapore
Sunshine Coast
Gold Coast
Buenos Aires
Osaka
Seoul
Vancouver
Chicago
New York
Beijing
Tokyo
Norfolk Island
New Caledonia
Contents
1. Introduction to Air New Zealand 41. Introduction to Air New Zealand 4
2. Competitive advantages 52. Competitive advantages 5
3. 2019 highlights 63. 2019 highlights 6
4. Sustainability 84. Sustainability 8
5. Shareholding structure and 5. Shareholding structure and
performance 12 performance 12
6. Financial framework and 6. Financial framework and
our 2019 performance 13 our 2019 performance 13
7. Network 147. Network 14
8. Operating fleet 188. Operating fleet 18
9. Balance sheet structure 9. Balance sheet structure
and funding 20 and funding 20
10. Risk management 2210. Risk management 22
11. Earnings and dividend 11. Earnings and dividend
performance 23 performance 23
12. Five year statistical review 2412. Five year statistical review 24
13. Other information 2813. Other information 28
14. Executive management team 3014. Executive management team 30
15. Board of Directors 3215. Board of Directors 32
16. Investor resources 3416. Investor resources 34
Kia ora
Air New Zealand Databook 2019
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Air New Zealand Databook 2019
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Company description
The Air New Zealand Group (‘Air New
Zealand’) operates a global network
that provides air passenger services
and cargo transport services to, from
and within New Zealand to almost
18 million passengers a year. Air
New Zealand’s strategic focus and
competitive advantage lies within the
Pacific Rim where the airline’s network
reach extends from New Zealand into
Australia, Asia and the Americas.
With our global alliance partners we are
able to connect New Zealand to Europe
and beyond, with over 3,500 flights,
on average, each week to domestic
and international destinations. Air
New Zealand’s consolidated operating
revenue was $5.8 billion in the 2019
financial year, generated by a fleet of
113 aircraft and over 12,500 employees
based globally.
A key contributor to
and beneficiary of
New Zealand tourism
As the first New Zealand experience
for many overseas travellers, Air New
Zealand is an integral part of the New
Zealand tourism industry. Similarly,
tourism is an important driver of Air
New Zealand’s performance as the
airline generates a significant portion
of its revenue from overseas travellers.
Air New Zealand plays an active role in
increasing the demand for travel into
and around New Zealand through our
comprehensive domestic and regional
network, through our partnerships with
tourism organisations and promoting
our national and regional sponsorships
both off-shore and within New Zealand.
Tourism continues to be New Zealand’s
top export earner. Tourism contributes
20.6 percent of New Zealand’s total
exports of goods and services, employs
8.0 percent of New Zealand’s workforce
and makes a total contribution to New
Zealand GDP of $27.0 billion ($15.9
billion direct contribution and $11.1
billion indirect value-add of industries
supporting tourism).
1
An award-winning airline
Air New Zealand is proud of our fleet,
our brand and our Kiwi customer service
culture. These all contribute to Air New
Zealand being an award-winning airline,
with the following select accolades
received as recent examples.
2019 Colmar Brunton Corporate
Reputation Index
- Most reputable company in New
Zealand
2019 Reputation Institute’s Australian
Corporate Reputation Index
- Most reputable company in Australia
2019 ATW Airline awards
- Eco-Airline of the Year
- Passenger Experience Achievement
Award - Skycouch™ infant pod
2020 Airline Passenger Experience
Association (APEX) Awards
- Best Product or Service award –
Economy Skycouch™
2019 New Zealand Workplace Health
and Safety Awards
- Best overall contribution to
improving workplace health and
safety in New Zealand
- Best initiative to encourage worker
involvement in health and safety
2019 www.airlineratings.com
airline awards:
- Best Premium Economy for the third
consecutive year
- Best Long-Haul airline in the Pacific
TripAdvisor’s Travellers’ Choice Awards
for 2019:
- Best Business Class in the
South Pacific
- Best Premium Economy Class
in the South Pacific and the world
- Best Economy Class in the
South Pacific
2019 New Zealand Tourism awards
- Winner of Tourism Sustainability
Business Excellence award for
businesses with more than $6m
annual turnover.
Trading information
Air New Zealand is publicly traded
on the NZX and ASX. Additionally,
American Depositary Shares are
traded over-the-counter (OTC) in the
United States under Air New Zealand’s
sponsored Level 1 American Depositary
Receipt programme.
NZX Ticker code: AIR
ASX Ticker code: AIZ
ADR OTC Ticker code: A N Z LY
1. Introduction to Air New Zealand
1
Tourism Satellite Account, March 2018.
Air New Zealand Group
Top markets for international
visitors to New Zealand
for year ended 30 June 2019
International visitor arrivals

2.7 %
for year ended 30 June 2019
Other markets
35%
Australia
39%
China
11%
UK
6%
USA
9%
In November 2019, Air New Zealand was named ‘2020 Airline of the Year’ by AirlineRatings.com.
This means that Air New Zealand has now received the top honour in AirlineRatings.com’s Airline
Excellence Award for the sixth year in a row.

Air New Zealand Databook 2019
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2. Competitive advantages
Resilient core domestic business
Our domestic network is unmatched, offering services to 20 main centers and regions across
New Zealand. Our strong corporate brand and renowned Kiwi service culture continue to
drive increased loyalty from our customers, strong brand health and employee engagement.
Investments in larger and modern aircraft and lounges are further stimulating travel within
New Zealand from both international and domestic tourism.
Pacific Rim focused international network
Our alliance-driven international network underpins our Pacific Rim strategy. With our
revenue-share alliance partnerships, Air New Zealand benefits from strong relationships
with market leaders in some of our key international markets, including the United States,
Singapore, Hong Kong and China.
Airpoints™ loyalty programme
Our Airpoints™ programme is viewed as the most valuable loyalty programme in New Zealand.
Providing our members with the world’s easiest and most transparent loyalty currency,
Airpoints Dollars™ has driven strong membership growth. With approximately 3.2 million
members, Airpoints also provides Air New Zealand with valuable data that allows us to better
understand our customers and their travel experiences.
Focused on sustainable cost improvements
Our simplified and modern fleet has an average seat weighted age of 7.1 years and is
contributing significant operational efficiencies to the airline. Our fleet consists of
modern fuel-efficient aircraft, across fewer aircraft types, which provides the airline with
a competitive cost structure.
Investment-grade financial strength
We have a proven history of achieving profitability through the cycle as Air New Zealand has
delivered positive earnings every year since 2003 and paid dividends to our shareholders
every year since 2005. Underpinning our ability to generate strong returns is a focus on
capital allocation discipline. Air New Zealand has a credit rating of Baa2 from Moody’s with
stable outlook, placing us amongst the top echelon of airlines in the world.
Our competitive advantages provide us with
a simple and proven strategy for success.

Air New Zealand Databook 2019
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60,000+
tonnes of CO
2
-e offset
~3.2m
Airpoints
™
members;
up 11% from 2018
968,123
flights paid for by Airpoints
Dollars™ during the year
Gender,
Accessibility &
Rainbow Tick
accreditations achieved
44%
of women in senior
leadership positions;
up from 16% in 2013
190,000+
flights operated
~17.7m
passengers carried
No.1 employer
top rated in New Zealand
2019 Randstad Employer Brand research
Eco-Airline
of the Year
2019 Air Transport
World Airline Industry Awards
No.1 corporate
reputation
in New Zealand
and Australia
Colmar Brunton
Corporate Reputation Index 2019
Reputation Institute
Corporate Reputation Index 2019
Air New Zealand Group
3. 2019 highlights

Air New Zealand Databook 2019
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22 cents
Full year declared dividend
per share
$986m
Operating cash flow
$ 374 m
Earnings before taxation
$5.8b
Operating revenue
Air New Zealand Databook 2019
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4. Sustainability
Air New Zealand has an important part to
play in our country’s long-term success.
We are committed to sustainably growing
our business and supercharging New
Zealand’s success – socially, environmentally
and economically.
On an annual basis, Air New Zealand releases a Sustainability Report
which discusses our performance and our longer-term aspirations.
For more information, our 2019 Sustainability Report can be accessed
online at airnewzealand.co.nz/sustainability
Air New Zealand Group
Air New Zealand Databook 2019
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Our 2030 Sustainability Goals
Manaakitanga
Our People
Kaitiakitanga
Our Place
Ōhanga Ora
Our Economy
Air New Zealand Databook 2019
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To u r i s m :
Air New Zealand has
played a pivotal role in
the New Zealand tourism
sector delivering economic
prosperity while enhancing
natural and cultural resources
and providing outstanding
experiences for visitors and
New Zealanders alike.
Trade and Enterprise:
Air New Zealand has
enabled the distribution and
promotion of sustainable
products and services
around the globe, and has
developed a world-class
supply chain to support
sustainable New Zealand
businesses of all sizes.
Carbon:
Air New Zealand has
stabilised emissions
through carbon neutral
growth post 2020, in a
way that simultaneously
drives significant
environmental, social and
economic benefits.
Nature and Science:
Air New Zealand has
enabled world-leading
conservation and climate
science, engaging in
long-term strategic
partnerships to help
protect New Zealand’s
precious natural capital.
Air New Zealanders:
Air New Zealand is a global
benchmark organisation for
its employee engagement,
grounded in its distinct
employee experience that
ensures safety and fosters
high performance, innovation,
community involvement,
diversity and inclusion.
Our Communities:
Air New Zealand is
recognised as the most
influential exponent of
strategic community
investment in New
Zealand, helping build
cohesive, resilient and
sustainable communities
across the country.
Air New Zealanders
Our Communities
Carbon
Nature and Science
Tourism
Trade and Enterprise

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Air New Zealand Group
Our carbon strategy
Air New Zealand continues to support the aviation
industry target of 1.5 percent annual average fuel
efficiency improvement (2009-2020); carbon
neutral growth from 2020; and halving 2005
emissions by 2050.
At Air New Zealand we believe that aviation
fuel efficiency is the most significant way in
which we can currently reduce our carbon
footprint. The airline has made significant
progress in this area, achieving an average
annual reduction of 2.0 percent since the
baseline year of 2009. This year our average
aviation fuel efficiency declined (down 1.1
percent compared to 2018) as up to four of
our most fuel-efficient aircraft, the Boeing
787-9 Dreamliner, were unavailable for use
due to the global Rolls-Royce Trent 1000
engine issues. To provide operational surety
and schedule resilience, the airline leased
three aircraft which, depending on flight
route and duration, typically used 20 to
26 percent more fuel than the Dreamliner,
resulting in the decline in fuel efficiency
this year.
One of the ways in which Air New Zealand
can reduce carbon emissions is by
operating a modern, fuel efficient fleet.
Our investment in this area continues
to improve fuel efficiency with fuel
consumption up 1.8 percent compared
to a 4.0 percent increase in capacity.
In the 2019 financial year, the airline
announced a commitment to purchase
seven additional Airbus A321 NEO aircraft
for our domestic network. Equipped with
new generation engines and approximately
25 percent more seats, the A321 NEOs
are expected to deliver fuel savings and
efficiencies of up to 15 percent compared
to the airline’s existing A320 domestic
aircraft, helping to reduce carbon
emissions. This year Air New Zealand also
took delivery of the first eight of its existing
order of 13 A320/321 NEO aircraft which
form part of the airline’s replacement of the
international narrowbody fleet and will be
deployed on the trans-Tasman and Pacific
Islands networks.
In May 2019 the airline also announced its
commitment to purchase eight Boeing
787-10 Dreamliner aircraft powered by GE
Aviation’s GEnx-1B engines. The first of
these highly fuel-efficient aircraft will join
our fleet in the 2023 financial year and
will replace our fleet of eight Boeing
777-200 aircraft, which will be phased out
by the middle of the next decade. These
aircraft are expected to be up to 25 percent
more fuel efficient than the Boeing 777-200
aircraft and have the potential to save
190,000 tonnes of CO₂-e emissions per year.
In addition to our investment in fleet,
we continue to implement other fuel
efficiency initiatives. Last financial year
we implemented more efficient departure
climb profiles on our Boeing 777 and
Boeing 787-9 aircraft. This year we have
focused on approach-path efficiencies
and in December 2018, we implemented
new approach paths into Christchurch
across our jet fleet to reduce the distance
flown, allowing for continuous low-powered
descents and lower fuel requirements for
our planes. We are currently trialing similar
approaches into Wellington. We have also
focused on removing further unnecessary
weight from our domestic jet aircraft, and
have saved nearly 200 tonnes of fuel and
622 tonnes of CO₂-e.
Air New Zealand participates in the New
Zealand Emissions Trading Scheme for
domestic emissions. From 1 January 2019
this year, Air New Zealand has an obligation
under the scheme to purchase and
surrender emission units for 100 percent of
its domestic emissions.
We are supportive of, and have submitted
on, the Government’s Zero Carbon Bill.
We want to see the Government work in
partnership with sectors that have limited
emissions reduction options to explore
complementary policy measures that could
support lower-emission investments and
industry innovation.
In March 2019 Air New Zealand entered
into a limited liability partnership with
Contact Energy, Genesis Energy and
Z Energy to form Drylandcarbon One
Limited Partnership (Drylandcarbon),
which will see the four companies invest
in the establishment of a geographically
diversified forest portfolio to sequester
carbon and deliver New Zealand Units
(NZUs). Drylandcarbon is specifically
targeting marginal, unproductive and
often erosion prone land for conversion to
sustainable forestry for carbon farming.
For emissions in international airspace,
Air New Zealand participates in the
Carbon Offset and Reduction Scheme
for International Aviation (CORSIA).
Governed by the International Civil
Aviation Organization, CORSIA sets the
global framework to measure, report
and cancel offset units for international
aviation emissions. The monitoring phase
commenced this year and requires the
airline to report emissions from international
aviation. Along with other global participants
we will begin to offset emissions associated
with growth beyond 2020.
With growing awareness of the effects
of climate change, we know many of our
customers are committed to living in a more
sustainable way. This year we continue to
encourage and enable our customers to
voluntarily offset the carbon emissions from
their air travel, via FlyNeutral, our customer
carbon offsetting programme
1
. When
customers choose to offset the carbon
from their flights, the money collected
goes to carefully chosen projects which
provide permanent, verified and sustainable
emission reductions. These projects
generate emissions reduction units, which
are purchased and then cancelled from
circulation permanently.
Since integrating the offsetting functionality
into our bookings system and introducing
this on our US, United Kingdom, Canadian
and Australian websites this year, we have
seen an improved uptake rate — from less
than 100 bookings a month to more than
15,000 journeys per month. In the past year,
retail customers partially or fully offset more
than 183,600 journeys, up from just over
130,200 last year, and we have seen a rise in
the number of corporate and government
customers joining FlyNeutral. Air New
Zealand also offsets all carbon dioxide
emissions associated with our employees
travelling around our network for work,
which this year amounted to more than
11,500 tonnes of CO₂-e reduced or removed
from the atmosphere.
For more information on this and our other
sustainability initiatives, please refer to Air
New Zealand’s Sustainability Report 2019 at
airnewzealand.co.nz/sustainability
Air New Zealand Group
1. This voluntary carbon offsetting programme is separate from Air New Zealand’s compliance with the New Zealand
Emissions Trading Scheme, which covers Air New Zealand’s domestic operations and which Air New Zealand separately
meets. Voluntary carbon offsetting is relevant and important, even in the context of a regulatory emissions trading scheme.

Air New Zealand Databook 2019
11
*Revenue Tonne Kilometre (RTK) is a measure of the weight that has been paid for on the aircraft (freight and passengers) multiplied
by the number of kilometres transported. Freight values are from Air New Zealand records, and passenger weights are estimated
at 100kg per passenger (including checked and carry-on baggage) as recommended by IATA for generating a fuel efficient target.
CO
2
-e emissions are from Air New Zealand’s use of aviation fuel over the same time periods.
0.73
20172018
0.72
kg CO
2
-e/RTK
0.93
2009
0.88
2010
0.85
2011
0.81
2012
0.79
2013
0.78
2014
0.76
2015
0.74
2016
Fuel efficiency: CO
2
-e per Revenue Tonne Kilometre (RTK)*
2.0
%
Average annual fuel
efficiency improvement
compared to
2009 baseline
2019
0.73
1
1. In 2019, up to four of our most fuel-efficient aircraft, the Boeing 787-9 Dreamliner, were unavailable for use due to the global Rolls-Royce
Trent 1000 engine issues. Air New Zealand leased two Boeing 777-200 and one Boeing 777-300 aircraft which, depending on flight
route and duration, typically used 20 to 26 percent more fuel than the Dreamliner, resulting in the decline in fuel efficiency this year.

Air New Zealand Databook 2019
12
Air New Zealand Group
Air New Zealand is listed on the New
Zealand Stock Exchange (NZX) with
the ticker symbol AIR.NZ and on
the Australian Securities Exchange
(ASX) with the ticker symbol AIZ.AX.
In 2017, Air New Zealand launched
a sponsored Level 1 American
Depositary Receipt (ADR) programme.
Air New Zealand’s American
Depositary Shares, each representing
five Ordinary Air New Zealand shares
are traded over-the-counter in the
United States (ticker code ANZLY).
There are 1,122,810,044 Ordinary Shares
on issue (excluding Treasury Stock),
as at 30 June 2019. The New Zealand
Government is the majority shareholder
with 582,854,593 shares, or 52% of total
issued capital. The remaining shares
are held by New Zealand institutional
and retail investors and institutional
shareholders primarily in the United
States, Australia, Asia and the United
Kingdom. Air New Zealand has a
robust average daily trading volume
of approximately 1.0 million shares.

5. Shareholding structure and performance
5 year total shareholder return (net dividend)
Air New Zealand vs NZX50 vs Bloomberg World Airline Index
Share register (as at 30 June 2019)
As part of our financial framework,
we have a target to consistently pay
a sustainable level of ordinary dividend
as well as growth in share price to
provide a combined Total Shareholder
Return. Due to market fluctuations,
we monitor Total Shareholder Returns
over a five-year period including the
change in share price and dividends
received (assuming dividends are
reinvested in shares on the ex-
dividend date).
AIR NEW ZEALANDBWAIRL IndexNZX50 Index
AIR NEW ZEALANDBWAIRL IndexNZX50 Index
250.00
200.00
150.00
100.00
50.00
0
-50.00
TOTAL SHAREHOLDER RETURN (NET DIVIDEND) (%)
30 JUNE 201430 JUNE 201530 JUNE 201630 JUNE 201730 JUNE 201830 JUNE 2019

104%

33%
New Zealand Government
52%
New Zealand institutional investors
6%
Retail investors
4%

95%
International institutional
investors
38%

Air New Zealand Databook 2019
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Capacity
growth
4.0%
Baa2 rating
Stable
CASK
1

improved
1.2%
Gearing
54.6%
Pre-tax
ROIC
10.2%
Ordinary
dividends
declared
0.22
Profitable GrowthCapital DisciplineShareholder Returns
Targeting pre-tax
ROIC > 15%
Targeting a consistent
and sustainable
ordinary dividend
Capacity growth in-line
with New Zealand tourism
growth over medium term
Maintain investment
grade credit rating
Continuous CASK
improvement
Gearing between
45% to 55%
Risk Management
Funding flexibilityHedgingLiquidity
Air New Zealand utilises a financial framework
that is focused on profitable growth while
maintaining capital discipline. The ultimate
target is to provide sustainable and strong
shareholder returns over the long-term.
6. Financial framework and our
2019 performance
1
Excluding fuel price movement, foreign exchange, temporary impact from global Rolls Royce engine issues and third party maintenance.

Air New Zealand Databook 2019
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Air New Zealand Group
Air New Zealand provides air passenger and cargo
transport services within New Zealand, as well as
to and from Australia, the Pacific Islands, Asia, the
Americas and the United Kingdom.
Five year key operating statistics
GROUPJUNE 2019JUNE 2018JUNE 2017JUNE 2016JUNE 2015
Passengers carried (‘000s) 17,738 4.5% 16,966 6.4% 15,952 5.2% 15,161 6.0% 14,297 4.2%
Available Seat Kilometres (ASKs, millions) 46,029 4.0% 4 4, 2 74 5.0% 42,169 6.3% 39,684 11.5% 35,601 6.6%
Revenue Passenger Kilometres (RPKs, millions) 38,573 5.2% 36,662 5.3% 34,814 4.8% 33,223 11.0% 29,934 6.6%
Load Factor83.8%1.0 pt82.8%0.2 pts82.6%(1.1 pts)83.7%(0.4 pts)84.1%-
Revenue per Available Seat Kilometres (RASK, cents) 10.8 1.6% 10.6 1.8% 10.4 (8.1%) 11.3 (2.3%) 11.6 0.2%
New Zealand domestic
and regional
Air New Zealand operates one of the
most comprehensive domestic and
regional networks in the world with
over 400 flights every day to 20 New
Zealand destinations. Our domestic
jet network across the main centres
in New Zealand (Auckland, Wellington,
Christchurch, Dunedin and Queenstown)
is operated by a fleet of 17 Airbus
A320s (as at 30 June 2019).
Our turboprop network across the
regional centres of New Zealand is
operated by a fleet of 52 turboprops
(as at 30 June 2019) including ATRs
and Q300s.
DOMESTIC AND REGIONALJUNE 2019JUNE 2018JUNE 2017JUNE 2016JUNE 2015
Passengers carried (‘000s) 11,513 3.8% 11,089 6.8% 10,379 6.7% 9,725 5.2% 9,246 3.7%
Available Seat Kilometres (ASKs, millions) 7,104 2.9% 6,905 4.7% 6,597 8.8% 6,065 8.5% 5,592 3.8%
Revenue Passenger Kilometres (RPKs, millions) 5,957 4.1% 5,719 7.7 % 5,311 8.7% 4,887 7. 2% 4,561 4.4%
Load Factor83.9%1.1 pts82.8%2.3 pts80.5%(0.1 pt)80.6%(1.0 pt)81.6%0.5 pt
Revenue per Available Seat Kilometres (RASK, cents) 22.5 2 .1% 22.0 3.6% 21.2 (2.9%) 21.8 (6.5%) 23.4 3.1%
7. Network
Sydney
Melbourne
Samoa
Tonga
Fiji
Niue
New Caledonia
Norfolk Island
Tahiti
Christchurch
Wellington
Auckland
Adelaide
Perth
Brisbane
Cairns
Queenstown
Rarotonga
Honolulu
Sunshine Coast
Gold Coast
Kerikeri
Whangarei
Blenheim
Timaru
Hokitika
Invercargill
Nelson
Tauranga
Gisborne
Rotorua
Taupo
New Plymouth
Palmerston North
Napier
Auckland
Queenstown
Christchurch
Dunedin
Hamilton
Wellington
Denpasar

Air New Zealand Databook 2019
15
Sydney
Melbourne
Samoa
Tonga
Fiji
Niue
New Caledonia
Norfolk Island
Tahiti
Christchurch
Wellington
Auckland
Adelaide
Perth
Brisbane
Cairns
Queenstown
Rarotonga
Honolulu
Sunshine Coast
Gold Coast
Kerikeri
Whangarei
Blenheim
Timaru
Hokitika
Invercargill
Nelson
Tauranga
Gisborne
Rotorua
Taupo
New Plymouth
Palmerston North
Napier
Auckland
Queenstown
Christchurch
Dunedin
Hamilton
Wellington
Denpasar
Tasman and
Pacific Islands
Air New Zealand operates an expansive
network to Australia and the Pacific
Islands, with over 44 flights every day
to/from eight destinations in Australia
and 15 flights every day to/from 10
destinations throughout the Pacific
Islands. Our international short-haul
network is operated by a fleet of A320/
A321’s and Boeing wide-body aircraft.
TASMAN AND PACIFIC ISLANDSJUNE 2019JUNE 2018JUNE 2017JUNE 2016JUNE 2015
Passengers carried (‘000s) 4,044 6.5% 3,798 6.7% 3,561 1.6% 3,507 3.5% 3,388 3.4%
Available Seat Kilometres (ASKs, millions) 13,640 5.2% 12,963 7.7 % 12,039 5.3% 11,438 5.1% 10,888 2.5%
Revenue Passenger Kilometres (RPKs, millions) 11,195 5.8% 10,584 8.2% 9,784 2.6% 9,532 3.8% 9,184 3.7%
Load Factor82 .1%0.5 pts81.6% 0.3pts 81.3%(2.0 pts)83.3%(1.1 pts)84.4%1.0 pt
Revenue per Available Seat Kilometres (RASK, cents) 9.6 (0.1%) 9.6 4.5% 9.2 ( 7.1%) 9.9 (1.1%) 10.0 2.7%

Air New Zealand Databook 2019
16
International
long-haul
New Zealand is the centre of the Pacific
Rim and accordingly Air New Zealand
operates a strong network within this
region. The airline’s fleet of Boeing
777-200s, Boeing 777-300s and Boeing
787-9s, along with a network of revenue
share partnerships with other airlines,
provides 33 direct flights every day to
14 international long-haul destinations
(outside Australia and the Pacific Islands).

INTERNATIONAL LONG-HAULJUNE 2019JUNE 2018JUNE 2017JUNE 2016JUNE 2015
Passengers carried (‘000s) 2 ,181 4.9% 2,079 3.3% 2,012 4.3% 1,929 16.0% 1,663 9.3%
Available Seat Kilometres (ASKs, millions) 25,285 3.6% 24,406 3.7% 23,533 6.1% 22,181 16.0% 19,121 10.0%
Revenue Passenger Kilometres (RPKs, millions) 21,421 5.2% 20,359 3.3% 19,719 4.9% 18,804 16.2% 16,189 9.0%
Load Factor84.7%1.3 pts83.4%(0.4pts) 83.8%(1.0 pt)84.8%0.1 pt8 4.7%(0.7 pt s)
Revenue per Available Seat Kilometres (RASK, cents) 8.1 2 .7% 7. 9 (1.2%) 7. 9 (12.9%) 9.1 1.6% 9.0 (2.1%)

Air New Zealand Group
London
Vancouver
Los Angeles
Auckland
Houston
Beijing
San Francisco
Hong Kong
Shanghai
Taipei
Singapore
Buenos Aires
Christchurch
Wellington
Tokyo
Osaka
Seoul
Chicago
Kerikeri
Whangarei
Blenheim
Timaru
Hokitika
Invercargill
Nelson
Tauranga
Gisborne
Rotorua
Taupo
New Plymouth
Palmerston North
Napier
Auckland
Queenstown
Christchurch
Dunedin
Hamilton
Wellington
New York
Rarotonga
Key
Operated by Air New Zealand
Operated by Air China
Operated by Singapore Airlines;
Singapore–Wellington operated
via Melbourne
Operated by Cathay Pacific
Routes commencing in the
2020 financial year
Routes commencing in the
2021 financial year
Notes
Air New Zealand flew to Ho Chi Minh City Air New Zealand flew to Ho Chi Minh City
up until October 2018.up until October 2018.
Air New Zealand will commence services Air New Zealand will commence services
direct to New York from October 2020. direct to New York from October 2020.
At the same time, the airline will withdraw At the same time, the airline will withdraw
from its Los Angeles to London route.from its Los Angeles to London route.
Air New Zealand will operate the Air New Zealand will operate the
Christchurch to Singapore route from Christchurch to Singapore route from
1 December 2019 to 22 February 2020.1 December 2019 to 22 February 2020.

Air New Zealand Databook 2019
17
Our network
partnerships
Air New Zealand’s airline
partnerships range from simple
interline relationships through to deep
revenue share alliances, and from
destination-specific arrangements to
those covering whole continents.
At the global level, Air New Zealand’s
revenue share alliances, codeshare
and Star Alliance partnerships allow
us to offer connections across 35
major carriers and, together with our
interline partners, to offer access
for our customers to nearly 1,800
destinations worldwide. Our revenue
share alliances are a key part of our
Pacific Rim strategy and includes
strategic partnerships with United
Airlines, Singapore Airlines, Cathay
Pacific and Air China. We maintain
a range of other code share and
interline relationships with other
carriers into specific markets, including
Aerolíneas Argentinas, Air Canada,
ANA, Lufthansa and Qantas. In
addition, our membership in the Star
Alliance is critical to our customer
proposition, including providing access
to global benefits for our Airpoints™
Gold and Elite members.
Code share partners
Revenue share
alliance partners
1
Effective 28 October 2018.
1
London
Vancouver
Los Angeles
Auckland
Houston
Beijing
San Francisco
Hong Kong
Shanghai
Taipei
Singapore
Buenos Aires
Christchurch
Wellington
Tokyo
Osaka
Seoul
Chicago
Kerikeri
Whangarei
Blenheim
Timaru
Hokitika
Invercargill
Nelson
Tauranga
Gisborne
Rotorua
Taupo
New Plymouth
Palmerston North
Napier
Auckland
Queenstown
Christchurch
Dunedin
Hamilton
Wellington
New York
Rarotonga

Air New Zealand Databook 2019
18
Air New Zealand Group
Air New Zealand operates a modern
and highly efficient fleet that has
been configured for the network
and customers it serves. The airline
continues to simplify its fleet, with fuel
efficient aircraft across fewer aircraft
types for greater operational efficiency.
In the 2019 financial year, Air New
Zealand announced the purchase of
seven additional Airbus A321 NEO
aircraft, with phased delivery expected
from the 2021 to 2024 financial
years. These aircraft will be deployed
on high demand routes to support
domestic growth. Equipped with new
generation engines and approximately
25 percent more seats, the A321
NEOs are expected to deliver fuel
savings and efficiencies of up to 15
percent compared to the existing A320
domestic aircraft, helping to reduce
carbon emissions.
Air New Zealand took delivery of
A320/A321 NEO aircraft this year
which forms part of the airline’s
replacement of its international
narrowbody fleet. Air New Zealand is
the first airline to operate the Airbus
NEO in Australasia. These aircraft
provide growth and cost benefits
for the Tasman and Pacific Islands
network. Two Boeing 787-9 aircraft
with increased premium cabin
space and next generation
Rolls-Royce TEN engines also
joined the fleet during the year.
In May 2019 Air New Zealand
announced capital expenditure for
eight Boeing 787-10 Dreamliner
aircraft powered by GE Aviation’s
GEnx-1B engines. The first of these
highly fuel-efficient aircraft will join
the Air New Zealand fleet in 2022 and
have the potential to save 190,000
tonnes of carbon per year. The airline
also has the option to increase the
number of aircraft and has substitution
rights that allow a switch from the
larger Boeing 787-10 aircraft to smaller
Boeing 787-9s, or a combination of
the two models. The delivery schedule
can also be delayed or accelerated
according to market demand.
These new long-haul aircraft will
replace Air New Zealand’s fleet of
eight Boeing 777-200 aircraft, which
will be phased out by 2025. Combined
with GE Aviation’s GEnx-1B engines,
the Boeing 787-10s are expected to
be 25 percent more fuel efficient than
the aircraft they are replacing.
8. Operating fleet
AIRCRAFT DELIVERY SCHEDULE
(AS AT 30 JUNE 2019)
NUMBER IN
EXISTING
FLEET
NUMBER
ON
ORDER
DELIVERY DATES (FINANCIAL YEAR)
2020202120222023
Owned fleet on order
Boeing 787-10-1*---1
Airbus A320/A321 NEOs49*234-
AT R 7 2- 6 0 022761--
Operating leased aircraft
Boeing 787-9111---
Airbus A320/A321 NEOs411---
Actual and forecast
aircraft capital expenditure
– $ millions
Historic trend of
fleet ownership
– seat weighted
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0
2009
50
%
50
%
2011
58
%
42
%
LeasedOwned
$ MILLIONS
201520162018
$1,000
$800
$600
$400
$200
0
201920232017
ActualForecast
*Does not reflect two additional A321 NEO aircraft or seven Boeing 787-10 aircraft on order for expected delivery from 2024.
20202021
Aircraft fleet age
in years
– seat weighted
AGE IN YEARS
7.8
7.5
2016
7.0
2017
7.1
2019^
10
8
6
4
2
0
7.1
2020
8.0
20222015
7.5
2018^
HistoricalForecast
7.6
2021
20222019
73
%
27
%
2015
64
%
36
%
2013
63
%
37
%
2017
71
%
29
%
^Excludes short-term leases which provide
cover for the global Rolls-Royce engine issues.

Air New Zealand Databook 2019
19
* As at 30 June 2017, three aircraft had been reconfigured to 342 seats with the remaining aircraft to be reconfigured by the end of
2017.
Operating fleet as at 30 June 2019*
*The fleet statistics do not include short-term leased capacity to cover Boeing 787-9 engine issues.
Boeing 777-300ER
Number: 7
Average Age: 7.2 years
Maximum Passengers: 342
Cruising Speed: 910 km/hr
Average Daily Utilisation: 14:10 hrs
Boeing 777-200ER
Number: 8
Average Age: 13.2 years
Maximum Passengers: 312
Cruising Speed: 910 km/hr
Average Daily Utilisation: 11:36 hrs
Boeing 787-9 Dreamliner
Number: 13
Average Age: 3.1 years
Maximum Passengers: 302 or 275
Cruising Speed: 910 km/hr
Average Daily Utilisation: 12:26 hrs
Airbus A320/321NEO
Number: 8
Average Age A321: 0.5 years
A320: 0.3 years
Maximum Passengers: A321: 214
A320: 165
Cruising Speed: 850 km/hr
Average Daily Utilisation: A321: 8:59 hrs
A320: 9:38 hrs
Airbus A320CEO
Number: 25
Average Age: 15 years short-haul, or
5.4 years domestic
Maximum Passengers: 168 short-haul, or
171 domestic
Cruising Speed: 850 km/hr
Average Daily Utilisation: 9:23 hrs short-haul, or
8:11 hrs domestic
ATR 72-500 / ATR 72-600
Number: 29
Average Age: 6.8 years
Maximum Passengers: 68
Cruising Speed: 518 km/hr
Average Daily Utilisation: 6:50 hrs
Bombardier Q300
Number: 23
Average Age: 12.4 years
Maximum Passengers: 50
Cruising Speed: 520 km/hr
Average Daily Utilisation: 6:28 hrs

Air New Zealand Databook 2019
20
Credit rating
On 3 July 2015 Moody’s upgraded
Air New Zealand Limited’s (AIR NZ)
senior unsecured issuer rating to
Baa2 from Baa3. The outlook on the
rating is stable as at 30 June 2019.
This puts Air New Zealand as one
of the top investment grade rated
airlines in the world.
Funding
Air New Zealand aircraft and
associated aircraft assets are acquired
via a mixture of ownership and lease
structures. As at 30 June 2019, 93
of Air New Zealand’s 113 aircraft fleet
1

were effectively owned.
Secured borrowings
Air New Zealand funds the purchase
of some of its aircraft and other
aircraft related assets through
secured bank borrowings from major
international banks which specialise
in airline and aircraft funding. As at
30 June 2019, Air New Zealand had
total secured bank borrowings of
$1,459 million. Secured borrowings
are subject to both fixed and floating
interest rates. Fixed interest rates as
at 30 June 2019 were 1%.
Finance leases
As at 30 June 2019, Air New Zealand
had total finance leases of $1,088
million. Finance lease liabilities are
secured over aircraft and aircraft
related assets and are subject to both
fixed and floating interest rates. Fixed
interest rates as at 30 June 2019
ranged from 0.7% to 3.1%. Purchase
options are available on expiry or, if
applicable under the lease agreement,
on early termination of the finance
leases. Finance leases are treated as
owned aircraft.
Unsecured borrowings
As at 30 June 2019, Air New Zealand
had NZX listed bonds of $50 million.
The unsecured, unsubordinated fixed
rate bonds have a maturity date of
28 October 2022 and an interest rate
of 4.25% payable semi-annually. The
bonds are quoted on the NZX Debt
Market under the ticker code AIR020.
Operating leases
As at 30 June 2019, 20 of Air New
Zealand’s 113 aircraft fleet were under
operating lease contracts. Payments
made under operating leases (net of
any incentives received) are recognised
as an expense in the Statement of
Financial Performance on a straight-
line basis over the term of the lease.
For the year ended 30 June 2019, Air
New Zealand recognised $183 million
of operating lease expenses in relation
to aircraft, and as at 30 June 2019, had
$767 million future operating lease
commitments in relation to aircraft.
For the purposes of Net Debt and
gearing calculations, operating leases
are capitalised as net aircraft operating
lease commitments for the next 12
months multiplied by a factor of seven
(excluding short-term leases in 2018
and 2019, which provide cover for
Boeing 787-9 engine issues). As at
30 June 2019, Air New Zealand included
$1,246 million of net aircraft operating
lease commitments as part of Net Debt.
Air New Zealand Group
Gross debt ($m)
as at 30 June
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
0
NZ$ MILLION
Total borrowings*Operating leases**
2019
3,843
2015
3,645
3,855
2016
9. Balance sheet structure and funding
2017
3,634
1
Excluding short-term leases which provide cover for Boeing 787-9 engine issues.
*Total borrowings comprise secured borrowings, bonds and finance lease liabilities.
**Operating leases comprise aircraft operating lease commitments for the next twelve months, multiplied by a factor of seven
(excluding short-term leases which provide cover for Boeing 787-9 engine issues).
2018
3,966

Air New Zealand Databook 2019
21
Gearing
1

When calculating the level of gearing,
Net Debt includes secured and
unsecured borrowings, finance leases,
capitalised aircraft operating leases
less interest-bearing assets and
unrealised gains/losses on open debt
derivatives. As at 30 June 2019, Net
Debt (including capitalised aircraft
operating leases) was $2,517 million
and gearing (including capitalised
aircraft operating leases) was 54.6
percent. Air New Zealand targets a
capital structure within the range of
45 percent to 55 percent.
Capital management and Distribution policy
The Air New Zealand Board of
Directors (the Board) is committed to
a Distribution Policy which ensures the
balance sheet and financial policies are
managed in a way that support long-
term financial resilience and provides a
consistently sustainable dividend.
Air New Zealand may have periods of
time when excess capital is available to
be returned to shareholders. In these
circumstances, the Board will assess
the appropriate level and mechanism
of additional capital returns consistent
with the objectives above. Should the
financial profile weaken and threaten
our capital management targets,
a review of capex and/or capital
distribution will be undertaken.
Policy guidelines
The following policy guidelines form
Air New Zealand’s Distribution Policy:
• Air New Zealand will seek to maintain
an investment grade credit rating.
• Target gearing range to be within a
range of 45 percent to 55 percent.
• Given the cyclical nature of the
airline industry and the requirement
to undertake significant fleet
reinvestment programmes, Air New
Zealand may, for limited periods,
operate outside the target ranges.
Subject to the objectives above, the
Board is committed to a Distribution
Policy geared towards consistently
paying a sustainable ordinary dividend
stream to shareholders.
The Board will seek to minimise volatility
in the dividends from year to year.
The Board recognises that distributions
to shareholders by way of fully imputed
dividends represent the optimal way in
which to return funds to shareholders.
This is dependent on the level of
imputation credits available to be
attached to dividends.
1
Gearing defined as Net Debt/(Net Debt plus Equity).
Gearing %
as at 30 June
(including capitalised aircraft operating leases)
GEARING (%)
2015201620172018
65%
60%
55%
50%
45%
40%
35%
30%
2019
Gearing
(Includes net capitalised
aircraft operating leases)
Gearing
Target minimum
Gearing
Target maximum
48.6%
52.4%
54.6%
51.8%
52.4%

Air New Zealand Databook 2019
22
Risk management
Air New Zealand is subject to foreign
currency, fuel price, interest rate
and credit risks. These risks are
managed with various financial
instruments, applying a set of policies
approved by the Board of Directors.
Compliance with these policies is
reviewed and reported monthly to
the Board and is included as part of
the internal audit programme. The
Group policy is not to enter, issue
or hold financial instruments for
speculative purposes. The latest Air
New Zealand Annual Financial Results
provides a full description of financial
risk management and discusses the
specific risks and risk management
applicable to Air New Zealand,
including fuel price risk and foreign
exchange risk.
Last year, the Board, led by the
Audit Committee, has worked with
management to develop and implement
a comprehensive Enterprise Risk
Management Framework (ERMF)
designed to provide a consistent
approach to risk identification,
management and reporting. The Board
and management have identified and
assessed a number of strategic risks
facing the business. These have been
prioritised based on their relative
strategic importance and criticality.
For more information on strategic risks
please refer to the Risk Management
section of the Corporate Governance
Statement in our 2019 Annual Financial
Results or the Corporate Governance
section of the investor centre website,
which can be accessed online at
airnewzealand.co.nz/corporate-
governance
Fuel price risk
Fuel price risk is the risk of loss to
Air New Zealand arising from adverse
fluctuations in fuel prices. The objective
of Air New Zealand’s commodity risk
management activities is to provide
time to adjust to changing fuel prices
while protecting the operating margin
in the short-term.
Air New Zealand primarily manages jet
fuel price risk by using crude oil hedges
consisting of Brent Crude hedges.
Fuel price hedging generally does not
exceed 12 months. Typically, the next
four months of future fuel purchases
are hedged to a minimum of 50%
and that minimum then progressively
reduces to zero by the eighth month.
The maximum amount of hedges can
be 85% for the next six months and
then progressively falling to 20% in the
twelfth month.
On a quarterly basis, Air New Zealand
discloses its fuel hedging position
for the next 12 months, which can be
accessed online at airnewzealand.co.nz/
fuel-hedging-announcements
Foreign currency risk
The Group’s currency exposure
primarily arises from operating
activities, receiving ticket sales in
foreign currencies and paying for fuel,
aircraft leases and aircraft maintenance
largely in USD. From capital activities,
the company purchases fixed assets
denominated in foreign currency on a
regular basis and also has borrowings
in foreign currency.
Currency risk management has
the objective to give the company
time to adjust to changes in market
circumstances.
Air New Zealand manages currency risk
through two methodologies:
• Placement of hedging cover on
identified operating foreign currency
exposures
• Management of foreign currency
balance sheet items, mainly debt, by
way of actual hedges and use of future
foreign currency revenues
The above policies are adhered to and
monitored on a day to day operational
basis. The Executive Management Team
and the Board of Directors reserve the
right to operate outside of these policy
parameters from time to time and as
required for the financial and operational
benefit of Air New Zealand.
Air New Zealand Group
10. Risk management

Air New Zealand Databook 2019
23
11. Earnings and dividend performance
Earnings before taxation
700
600
500
400
300
200
100
0
NZ$ MILLION
2015
474
2019
374
2018
540
2016
663
2017
527
NZ$ MILLION
Operating cash flow
1,100
2015
1,031
2018
1,200
1,000
800
600
400
200
0
1,074
2016
904
2017
Operating revenue
NZ$ MILLION
5,800
5,600
5,400
5,200
5,000
4,800
4,600
4,400
4,200
Gearing
60
58
56
54
52
50
48
46
44
42
40
PERCENTAGE (%)
2018
52.4
2016
48.6
2015
52.4
2017
Ordinary dividends declared
(cents per share)
NZD (CENTS PER SHARE)
16
2015
20
2016
22
2019
24
21
18
15
12
9
6
3
0
21
2017
22
2018
2015
4,925
2019
5,785
2016
5,231
2017
5,109
2018
5,495
2019
986
2019
54.6
51.8
Cash on hand
NZ$ MILLION
1,800
1,600
1,400
1,200
1,000
800
600
400
200
0
1,321
2015
1,343
2018
1,594
2016
1,369
2017
1,055
2019

Air New Zealand Databook 2019
24
12. Five year statistical review
Key Financial Metrics
For the year ended 30 June
20192018201720162015
Profitability and Capital Management
EBIT
1
/Operating Revenue
EBITDRA
2
/Operating Revenue
Passenger Revenue per Revenue Passenger Kilometre (Yield)
Passenger Revenue per Available Seat Kilometre (RASK)
Cost per Available Seat Kilometre (CASK)
3
Return on Invested Capital Pre-tax (ROIC)
4
Liquidity ratio
5
Gearing (incl. net capitalised aircraft operating leases)
6

%
%
cents
cents
cents
%
%
%

6.4
20.4
12.9
10.8
10.0
10.2
18.2
54.6

9.8
23.5
12.8
10.6
9.5
14.5
24.5
52.4

10.6
24.8
12.6
10.4
9.1
15.3
26.8
51.8

15.9
29.5
13.5
11.3
9.3
18.8
33.1
48.6
11.1
23.6
13.7
11.6
10.6
15.6
26.8
52.4
Shareholder Value
Basic Earnings per Share
7
Operating Cash Flow per Share
7
Ordinary Dividends Declared per Share
7
Special Dividends Declared per Share
7
Net Tangible Assets per Share
7
Closing Share Price 30 June
Weighted Average Number of Ordinary Shares
Total Number of Ordinary Shares
Total Market Capitalisation
Total Shareholder Returns
8

cps
cps
cps
cps
$
$
m
m
$m
%
24.0
87. 8
22.0
-
1.69
2.65
1,123
1,123
2,976
14.0
34.7
91.8
22.0
-
1.79
3.18
1,123
1,123
3,565
26.7
34.0
80.5
21.0
-
1.64
3.26
1,123
1,123
3,660
41.5
41.3
95.6
20.0
25.0
1.76
2.10
1,122
1,123
2,352
20.0
29.2
98.1
16.0
-
1.66
2.55
1,118
1,122
2,861
25.6
1. Earnings before interest and taxation (EBIT) excluding share of earnings of associates (net of taxation) and other significant items
(refer footnote under Summary of Financial Performance)
2. EBITDRA excludes share of earnings of associates (net of taxation) and other significant items (refer footnote under Summary of
Financial Performance)
3. Operating expenditure (excluding other significant items) per ASK (refer footnote under Summary of Financial Performance)
4. (EBIT plus interest component of aircraft operating leases)/average capital employed (Net Debt plus Equity) over the period
5. (Bank and short-term deposits and interest-bearing assets (excluding restricted cash))/Operating Revenue
6. Net Debt (including capitalised aircraft operating leases)/(Net Debt plus Equity)
7. Per-share measures based upon Ordinary Shares
8. Return over five years including the change in share price and dividends received (assuming dividends are reinvested in shares on
ex dividend date)
Certain comparatives within the five year statistical review have been reclassified for comparative purposes, to ensure consistency with the
current year. The Group adopted NZ IFRS 15 - Revenue from Contracts with Customers on 1 July 2018. Comparatives have been restated for the
2018 financial year in respect of the adopted standard. Refer to Note 25 of the 2019 Annual Financial Statements for further details.



Air New Zealand Group

Air New Zealand Databook 2019
25
Key Operating Statistics
For the year to 30 June
20192018201720162015
Passengers Carried (000)
Domestic
International
Australia and Pacific Islands
Asia
America and Europe
11,513
4,044
914
1,267
11,089
3,798
837
1,242
10,379
3,561
814
1,198
9,725
3,507
791
1,138
9,246
3,388
642
1,021
Total International 6,225 5,8775,5735,4365,051
Total Group 17,738 16,96615,95215,16114,297
Available Seat Kilometres (m)
Domestic
International
Australia and Pacific Islands
Asia
America and Europe

7,10 4
13,640
9,699
15,586

6,905
12,963
9,169
15,237

6,597
12,039
8,918
14,615

6,065
11,438
8,349
13,832

5,592
10,888
7,02 2
12,099
Total International 38,925 3 7, 3 6 935,57233,61930,009
Total Group 46,029 4 4, 27442 ,16939,68435,601
Revenue Passenger Kilometres (m)
Domestic
International
Australia and Pacific Islands
Asia
America and Europe
5,957
11,195
8,140
13,281
5,719
10,584
7,4 6 7
12,892
5,311
9,78 4
7, 2 70
12,449
4,887
9,532
7,0 70
11,73 4
4,561
9,184
5,78 4
10,405
Total International 32,616 30,94329,50328,33625,373
Total Group 38,573 36,66234,81433,22329,934
Passenger Load Factor (%)
Domestic
International
Australia and Pacific Islands
Asia
America and Europe
83.9
82.1
83.9
85.2
82.8
81.6
81.4
84.6
80.5
81.3
81.5
85.2
80.6
83.3
8 4.7
84.8
81.6
84.4
82.4
86.0
Total International 83.8 83.483.884.384.6
Total Group 83.8 82.882.683.784.1
Group Employee Numbers (Full Time Equivalents) 11,793 11 ,074 10,890 10,527 10,196
New Zealand, Australia and Pacific Islands represents short-haul operations. Asia, America and Europe represent long-haul operations.

Air New Zealand Databook 2019
26
Summary Financial Performance
For the year to 30 June
2019
$M
2018
$M
2017
$M
2016
$M
2015
$M
Operating Revenue
Passenger revenue
Cargo
Contract services
Other revenue
4,960
390
197
238
4,696
387
193
219
4,376
335
164
234
4,481
349
172
229
4,113
317
258
237
5,785 5,495 5,1095,2314,925
Operating Expenditure
Labour
Fuel
Maintenance
Aircraft operations
Passenger services
Sales and marketing
Foreign exchange gains/(losses)
Other expenses
(1,351)
(1,271)
(399)
(678)
(319)
(350)
53
(290)
(1,294)
(987)
(352)
(634)
(295)
(344)
(19)
(278)
(1,261)
(827)
(321)
(556)
(266)
(352)
(6)
(252)
(1,225)
(846)
(350)
(531)
(246)
(348)
112
(398)
(1,193)
(1,089)
(320)
(466)
(220)
(303)
79
(252)
(4,605) (4,203)(3,841)(3,832)(3,764)
Operating Earnings (excluding items below)
Depreciation and amortisation
Rental and lease expenses
Earnings Before Finance Costs, Associates and Taxation
1,180
(567)
(245)
368
1,292
(525)
(227)
540
1,268
(493)
(230)
545
1,399
(465)
(244)
690
1,161
(402)
(211)
548
Finance income
Finance costs
Share of earnings of associates (net of taxation)
48
(79)
37
40
(73)
33
43
(87)
26
53
(100)
20
56
(108)
(22)
Earnings Before Taxation
Taxation expense
374
(104)
540
(150)
527
(145)
663
(200)
474
(147)
Net Profit Attributable to Shareholders of Parent Company270390382463327
Certain comparatives within the five year statistical review have been reclassified for comparative purposes, to ensure consistency with the
current year. The Group adopted NZ IFRS 15 - Revenue from Contracts with Customers on 1 July 2018. Comparatives have been restated
for the 2018 financial year in respect of the adopted standard. Refer to Note 25 of the 2019 Annual Financial Statements for further details.
Comparatives previously reported as Other significant items of $3 million and $143 million have been reclassified to Other expenses for the
2017 and 2016 financial years respectively.
Summary of Cash Flows
For the year to 30 June
2019
$M
2018
$M
2017
$M
2016
$M
2015
$M
Cash flow from operating activities
Cash flow from investing activities
Cash flow from financing activities
986
(883)
(391)
1,031
(778)
(279)
904
(616)
(513)
1,0 74
(797)
(4)
1,100
(1,066)
53
(Decrease)/increase in cash holding(288)(26)(225)27387
Total Cash and Cash Equivalents1,0551,3431,3691,5941,321
Air New Zealand Group

Air New Zealand Databook 2019
27
Summary Financial Position
As at 30 June
2019
$M
2018
$M
2017
$M
2016
$M
2015
$M
Current Assets
Bank and short-term deposits
Other current assets
1,055
74 9
1,343
910
1,369
518
1,594
74 5
1,321
661
Total Current Assets 1,804 2,2531,8872,3391,982
Non-Current Assets
Property, plant and equipment
Other non-current assets

5,268
684

5,035
558

4,74 5
539

4,485
427

4,061
732
Total Non-Current Assets 5,952 5,5935,2844,9124,793
Total Assets 7,756 7, 8 467,17 17, 2516,775
Current Liabilities
Debt
1
Other current liabilities
307
2,359
431
2,265
317
2,088
464
2,007
253
1,875
Total Current Liabilities 2,666 2,6962,4052,4712,128
Non-Current Liabilities
Debt
1
Other non-current liabilities
2,290
711
2,303
671
2,197
583
2,103
569
2,069
613
Total Non-Current Liabilities 3,001 2 , 9742 ,7802,6722,682
Total Liabilities 5,667 5,6705,1855,1434,810
Net Assets 2,089 2 ,1761,9862 ,1081,965
To t a l E q u i t y 2,089 2 ,1761,9862 ,1081,965
1. Debt is comprised of secured borrowings, bonds and finance lease liabilities.
Summary of Debt
As at 30 June
2019
$M
2018
$M
2017
$M
2016
$M
2015
$M
Debt
Secured borrowings
Unsecured bonds
Finance lease liabilities

1,459
50
1,088

1,563
50
1,121

1,243
50
1,221

930
150
1,487

512
150
1,660
Bank and short-term deposits
Net open derivatives held in relation to interest-bearing liabilities
1

Interest-bearing assets (included within Other assets)
2,597
1,055
7
264
2,73 4
1,343
42
182
2,514
1,369
(32)
164
2,567
1,594
(17)
288
2,322
1,321
24
141
Net Debt
Net aircraft operating lease commitments
2
1,271
1,246
1,167
1,232
1,013
1,120
702
1,288
836
1,323
Net Debt (including off Balance Sheet) 2,517 2,3992 ,1331,9902,159
1. Unrealised gains/losses on open debt derivatives.
2. Net aircraft operating lease commitments for the next twelve months, multiplied by a factor of seven (excluding short-term leases in 2018 and
2019), which provide cover for Boeing 787-9 engine issues).

Air New Zealand Databook 2019
28
13. Other information
April 1940Tasman Empire Airways Limited (TEAL) incorporated
April 1965TEAL renamed Air New Zealand Limited
April 1978Air New Zealand and National Airways Corporation (NAC) merge
April 1989New Zealand Government privatises Air New Zealand
October 1989Air New Zealand listed on the New Zealand Stock Exchange (NZX)
October 1996Air New Zealand acquires 50 percent of Ansett Australia
March 1999Air New Zealand becomes a member of the Star Alliance group
June 2000Air New Zealand acquires remaining 50 percent of Ansett Australia
September 2001Ansett Australia placed into voluntary administration due to downturn
January 2002Air New Zealand recapitalised by New Zealand Government for $885m resulting in
82 percent government ownership
March 2011 to May 2014Air New Zealand purchased shares in Virgin Australia taking ownership to 25.9 percent
as at 30 June 2015
July 2011Revenue share alliance with Virgin Australia commenced
January 2013Revenue share alliance with Cathay Pacific commenced
November 2013New Zealand Government sells down its holding to 52 percent
January 2015Revenue share alliance with Singapore Airlines commenced
December 2015Revenue share alliance with Air China commenced
June 2016Air New Zealand sells 19.98 percent of its stake in Virgin Australia, reducing total stake
to 2.5 percent
July 2016Revenue share alliance with United Airlines commenced
October 2016Air New Zealand sells remaining stake in Virgin Australia
October 2018Air New Zealand and Virgin Australia end trans-Tasman alliance
Re-authorisation of joint venture alliance with Singapore Airlines for a further five years
to 31 October 2024
May 2019Air New Zealand announces commitment to purchase eight Boeing 787-10 Dreamliner
aircraft powered by GE Aviation’s GEnx-1B engines to replace its current 777-200 fleet
August 2019Re-authorisation of joint venture alliance with Cathay Pacific for a further five years to
31 October 2024
Company history
Air New Zealand Group

Air New Zealand Databook 2019
29
Available Seat Kilometres (ASKs)Number of seats operated multiplied by the distance flown (capacity)
Cost/ASK (CASK)Operating expenses divided by the total ASK for the period
EBITEarnings before interest and taxation
EBITDRAEarnings before interest, taxation, depreciation, rentals and amortisation
GearingNet debt / (net debt plus equity); Net debt includes capitalised aircraft operating leases
LiquidityTotal cash (comprising bank and short-term deposits and interest-bearing assets) as at
the end of the financial year divided by total operating revenue for that financial year
Net DebtInterest-bearing liabilities, less bank and short-term deposits, net open derivatives held
in relation to interest-bearing liabilities and interest-bearing assets, plus net aircraft
operating lease commitments for the next twelve months multiplied by a factor of seven
(excluding short-term leases, which provide cover for Boeing 787-9 engine issues)
Passenger Load FactorRPKs as a percentage of ASKs
Passenger Revenue/ASK (RASK)Passenger revenue for the period divided by the total ASK for the period
Pre-Tax Return on Invested Capital
(ROIC)
Earnings before interest and taxation (EBIT), and aircraft lease expense divided by three,
all divided by the average capital employed (being net debt plus equity) over the period
Revenue Passenger Kilometres
(RPKs)
Number of revenue passengers carried multiplied by the distance flown (demand)
The following non-GAAP measures are not audited: CASK, Gearing, Net Debt, RASK and ROIC. Amounts used within the calculations are
derived from the audited Group financial statements and Five Year Statistical Review contained in the 2019 Annual Financial Results.
The non-GAAP measures are used by management and the Board of Directors to assess the underlying financial performance of the Group
in order to make decisions around the allocation of resources.
Glossary of key terms
Expenditure classifications
LabourAll salaries, wages and employee benefits
FuelFuel including hedging gains/losses
MaintenanceMaterials and services
Aircraft operationsAirport dues, aircraft ground handling, line servicing, loading, air navigation and tech
crew trip costs
Passenger servicesPassenger ground handling, meals, inflight services, cabin crew trip expenses, lounge
expenses and security charges
Sales and marketingCommissions, advertising, promotions, marketing, FFP costs and distribution costs
Other expensesSafety, IT costs, legal and accounting, insurance, employee relations and property costs
Rental and lease expensesAircraft and property operating lease rentals

Air New Zealand Databook 2019
30
Jeff McDowall
|
CHIEF FINANCIAL OFFICER (currently Acting Chief Executive Officer)
Jeff joined Air New Zealand in 2000 and was appointed Chief Financial Officer in January 2018.
Prior to this position he held a range of senior commercial and finance roles within Air New
Zealand including Group General Manager Corporate Finance and Group General Manager
Commercial. Jeff has worked in a variety of businesses during his career, including six years
as a management consultant with PwC in New Zealand, Singapore and the United States, and
three years with Mobil Oil in New Zealand and the United Kingdom. Jeff has a Bachelor of
Commerce and Administration from Victoria University, is a member of Chartered Accountants
Australia and New Zealand and a certified member of the Institute of Finance Professionals NZ.
Jeff became Acting Chief Executive Officer in September 2019 and will continue in this role until
Greg Foran joins in the first quarter of calendar 2020.
14. Executive management team
1
Christopher Luxon
|
CHIEF EXECUTIVE OFFICER (resigned September 2019)
Christopher was appointed Chief Executive Officer in January 2013 having previously held the
role of Group General Manager International Airline for almost two years. Prior to joining Air New
Zealand, Christopher was President and Chief Executive Officer at Unilever Canada. This was
one of several senior leadership roles he held during an 18-year career at the multi-national that
saw him work in roles in Europe, North America and Asia/Pacific. Christopher has a Master of
Commerce in Business Administration from the University of Canterbury.
Christopher announced his resignation as Chief Executive Officer in June 2019 after eight years
with the airline and formally stood down on 25 September 2019. The airline has since announced
that Greg Foran has been appointed as its new Chief Executive Officer. Greg is currently
President and Chief Executive Officer of Walmart US and will take up his position with Air New
Zealand in the first quarter of the 2020 calendar year.
Nick Judd
|
CHIEF STRATEGY, NETWORKS & ALLIANCES OFFICER
Nick was appointed as the Chief Strategy, Networks and Alliances Officer in October 2017 and
leads Air New Zealand’s Joint Venture Alliance partnerships, the Star Alliance relationship and
the Sustainability and Transformation portfolios. He has worked across a number of functions
beginning his Air New Zealand career in Finance, before holding senior roles in Loyalty, Sales
and Commercial areas across Australia, China, America and New Zealand. Nick joined Air New
Zealand in May 2003 after working in the United Kingdom and Canada in finance roles for
companies such as Chase Manhattan Bank and News Limited. Nick is a Chartered Accountant
and holds a Bachelor of Management Studies (Hons) from the University of Waikato.
Carrie Hurihanganui
|
CHIEF GROUND OPERATIONS OFFICER
Carrie Hurihanganui was appointed as Chief Ground Operations Officer in 2018. She is
responsible for our Airports, Engineering & Maintenance, Properties & Infrastructure, Supply
Chain and Airline Operations teams. She has deep strategic and operational experience through
her 18 years at Air New Zealand in numerous senior roles, including General Manager Eagle Air,
General Manager Offshore Airports, General Manager Customer Experience, and Group General
Manager Regional Airlines & Airline Operations.
Carrie left the airline in 2017 to join National Australia Bank (NAB) based in Melbourne as
Executive General Manager Customer Experience before returning in 2018 to her current role.
She has a Bachelor of Business Studies from Massey University.
Jodie King
|
CHIEF PEOPLE OFFICER
Jodie was appointed Chief People Officer in February 2016. Prior to this she had managed
Air New Zealand’s Organisational Effectiveness and Talent, HR Corporate and HR Airports
and Sales and Commercial teams. Jodie has had a significant international career, living and
working in the United Kingdom for 16 years. During her time in London Jodie worked at KPMG in
leadership and management consultancy roles across a range of industries. Prior to KPMG she
worked for New Zealand Treasury and NZ Dairy Co-operative after graduating from the University
of Otago with an Arts and a Commerce degree. Most recently she studied at INSEAD, France,
where she completed the Advanced Management Programme.
Air New Zealand Group
1
Please refer to the following link on Air New Zealand’s website for full executive management profiles:
airnewzealand.co.nz/about-air-new-zealand

Air New Zealand Databook 2019
31
Jennifer Sepull
|
CHIEF DIGITAL OFFICER
Jennifer Sepull joined Air New Zealand in 2019 as Chief Digital Officer. Jennifer has more than
25 years of experience working in senior leadership roles at a range of organisations including
Kimberly-Clark, Honda Motor Corporation and IBM.
Jennifer has a law degree from Chapman University School of Law in California as well as a
Bachelor of Arts in criminal justice. She also attended Cambridge University in England with
a focus on international legal and technology business studies and received certification from
Harvard University for advanced cybersecurity management.
Cam Wallace
|
CHIEF REVENUE OFFICER
Cam was appointed as Chief Revenue Officer in January 2014 and is responsible for generating
Air New Zealand’s passenger and cargo revenue, currently a portfolio with a turnover of $6b.
His responsibilities include revenue management, global pricing, online sales, Grabaseat™,
retail marketing, corporate, distribution, government sales and contact centres. Cam joined
Air New Zealand in 2001 and has held a number of senior positions in the airline. Cam has
completed business management programmes at Darden School of Business, Kellogg School of
Management – Northwestern University Chicago and the London Business School. Most recently
he studied at INSEAD, France where he completed the Advanced Management Programme.
Mike Tod
|
CHIEF MARKETING & CUSTOMER OFFICER
Mike has responsibility for Air New Zealand’s global marketing and its customer experience
related functions together with accountability for Corporate Affairs, Government Affairs and
Industry Relations, Sponsorship and Community Partnership programmes. Mike was previously
General Manager of Marketing and Communications and prior to that General Manager of
Communications. He joined Air New Zealand from Fonterra where he held the roles of Assistant
to the Chief Executive Officer and Shareholder Communications Manager. Prior to these roles
he held senior positions with Television New Zealand and in the print industry. Mike is a Fellow
of the Chartered Institute of Marketing and a graduate of Harvard Business School’s Advanced
Management Programme.
Captain David Morgan
|
CHIEF OPERATIONAL INTEGRITY & STANDARDS OFFICER
David joined Air New Zealand in 1985 after a career in general aviation and subsequently joined
the Flight Operations management team in 1996. David has held various senior operational
management positions and was appointed to the Executive in 2008. In his current role David is
responsible for the essential core airline activity of operational integrity and safety, regulatory
accountability, flight operations policy, security and emergency management.
John Whittaker
|
CHIEF AIR OPERATIONS & PEOPLE SAFETY OFFICER
John leads the 4,800 people in Air New Zealand’s Jet Pilot, Cabin Crew and People Safety teams.
He started his career with Mount Cook Group in 1985 and was General Manager of Mount Cook
Airline when this was integrated into Air New Zealand.
Since then John has held General Manager roles in Operations, Loyalty, Alliances and
Government Relations. Prior to his 2016 appointment to Chief Air Operations & People Safety
Officer, he held the role of Group General Manager Airports leading the worldwide Airport and
Lounge teams and championed the adoption of High Performance Engagement with unions and
Air New Zealanders. He has a Bachelor of Commerce from the University of Canterbury.

Air New Zealand Databook 2019
32
15. Board of Directors
1
Antony (Tony) Carter
|
CHAIRMAN
BE (Hons), ME, MPhil
Independent Non-Executive Director (Appointed 1 December 2010)
Mr Carter is Chairman of Fisher & Paykel Healthcare Limited, a director of Fletcher Building
Limited, ANZ Bank New Zealand Limited and Vector Limited.
Mr Carter worked for his family company, Carter Group Limited, in Christchurch until 1986
when he purchased a Mitre 10 hardware store, also eventually serving as a director of Mitre 10
New Zealand Limited and becoming Chairman of Mitre 10 New Zealand Limited in 1993.
In 1994 Mr Carter was appointed General Manager of Foodstuffs (South Island) Limited and in
1995 he was appointed Chief Executive of Foodstuffs (South Island) Limited. In 2001 Mr Carter
was appointed Managing Director of Foodstuffs (Auckland) Limited and Managing Director of
Foodstuffs (New Zealand) Limited, until he retired in December 2010.
Mr Carter resigned as Chairman following the 2019 Annual Shareholder Meeting. Dame Therese
Walsh succeeded Mr Carter as the airline’s Chairman at this time.
Janice (Jan) Dawson
|
DEPUTY CHAIRMAN
CNZM, BCom, FCA
Independent Non-Executive Director (Appointed 1 April 2011)
Ms Dawson is Chairman of Westpac New Zealand Limited and a director of AIG Insurance
New Zealand Limited, Meridian Energy Limited and World Sailing. Ms Dawson is a member of the
University of Auckland Council and the Capital Investment Committee of the Ministry of Health.
Ms Dawson was a partner of KPMG for 30 years, specialising in audit and risk advisory, and the
Chair and Chief Executive of KPMG New Zealand from 2006 until 2011.
Ms Dawson is a Fellow of the New Zealand Institute of Chartered Accountants, a Fellow of the
Institute of Directors in New Zealand, a Paul Harris Fellow and a North Shore Business Hall of
Fame Laureate (2010).
Air New Zealand Group
Robert (Rob) Jager
|
DIRECTOR
ONZM, BE (Hons), MBA
Independent Non-Executive Director (Appointed 1 April 2013)
Mr Jager was appointed as Vice President of Shell Australia’s Prelude Floating LNG and wider
East Browse assets offshore of Western Australia in November 2018. Mr Jager was formerly
Chairman of the Shell Companies in New Zealand and General Manager, Shell Todd Oil Services.
Mr Jager spent a career spanning more than 40 years within Shell, joining the group in New
Zealand in 1978 as an engineering cadet and working for Shell in a variety of engineering,
project, operational, business, management, and governance roles in New Zealand and overseas.
Mr Jager chaired the independent taskforce on Workplace Health and Safety for the New
Zealand Government, which has been instrumental in encouraging fundamental changes to
New Zealand’s approach to workplace health and safety.
Mr Jager has been Chairman of the Air New Zealand Health, Safety and Security Committee
since September 2014.
Dame Therese Walsh
|
DIRECTOR, CHAIRMAN ELECT
DNZM, BCA, FCA
Independent Non-Executive Director (Appointed 1 May 2016)
Dame Therese is currently Chairman of TVNZ Limited, a director of ASB Bank Limited, Contact
Energy Limited, and Antarctica NZ, and Pro Chancellor at Victoria University.
Previously she was the Head of New Zealand for ICC Cricket World Cup 2015 Limited, and the
Chief Operating Officer for Rugby New Zealand 2011 Limited. She has also been a director
of NZX Limited, NZ Cricket and Save the Children NZ and Chief Financial Officer at the New
Zealand Rugby Union. Prior to this she was an auditor with KPMG.
Dame Therese is a Fellow of the New Zealand Institute of Chartered Accountants and a
commerce graduate from Victoria University. In 2013, she was named the inaugural supreme
winner of the Women of Influence Awards and was awarded a Sir Peter Blake Trust Leadership
Award in 2014. She became a Dame Companion of the New Zealand Order of Merit in June 2015.
1
Please refer to the following link on Air New Zealand’s website for full director profiles:
airnewzealand.co.nz/about-air-new-zealand

Air New Zealand Databook 2019
33
Linda Jenkinson
|
DIRECTOR
MBA, BBS
Independent Non-Executive Director (Appointed 1 June 2014)
Ms Jenkinson is a proven global entrepreneur who has started three multi-national companies,
one of which listed on the NASDAQ. Most recently she was the co-founder of John Paul, a global
concierge services and digital solutions company that services some of the world’s leading
customer facing businesses.
Ms Jenkinson is currently a director of Guild Group Holdings, Chair of Guild Super, a director of
the Eclipz Group (ECX) in Australia and a director of Harbour Asset Management.
Ms Jenkinson is the Founder of LevelUp, working with high-growth companies which includes
Jaxsta, where she is a director of the global music data platform. Previously Ms Jenkinson was
a partner at A.T. Kearney in their Global Financial Services Practice and was a leader in A.T.
Kearney’s Global Sourcing Practice.
Jonathan Mason
|
DIRECTOR
BA, MA, MBA
Independent Non-Executive Director (Appointed 1 March 2014)
Mr Mason has more than 30 years’ experience in the financial sector, with an emphasis on
emerging markets.
Prior to joining Air New Zealand’s Board in March 2014, he was Fonterra Co-operative Group’s
Chief Financial Officer.
He joined Fonterra in 2009 from US-based chemicals company Cabot Corporation where he was
Executive Vice-President and Chief Financial Officer. Prior to this he was employed as the Chief
Financial Officer at forest products company Carter Holt Harvey Limited and also served in
senior financial management positions at US based International Paper Company.
Mr Mason has had governance experience with organisations in both New Zealand and the
US. His current directorships include Vector Limited, Westpac New Zealand Limited and Zespri
Group Limited. Mr. Mason also serves as an Adjunct Professor of Management at the University
of Auckland, specialising in international finance.
Rt Hon Sir John Key
|
DIRECTOR
GNZM, AC
Independent Non-Executive Director (Appointed 1 September 2017)
Sir John was Prime Minister of New Zealand from 2008 to 2016. He successfully led the country
through the aftermath of the global financial crisis and a series of devastating earthquakes in
Christchurch. Among his portfolios, Sir John was Minister for Tourism. In this role he promoted
New Zealand offshore and oversaw substantial growth in New Zealand’s tourism industry.
Sir John is well respected in international affairs. He chaired the International Democrat Union
between November 2014 and February 2018 and chaired the United Nations Security Council in
2016. Sir John, who was knighted in the 2017 Queen’s Birthday Honours, has also been appointed
an Honorary Companion of the Order of Australia.
Sir John is the Chairman of ANZ Bank New Zealand Limited, a non-executive director of ANZ
Banking Group Limited Australia, and NYSE-listed cyber security company, Palo Alto Networks,
Inc. He also sits on the BP International Advisory Board.
Laurissa Cooney
|
DIRECTOR
BA, MA, MBA
Independent Non-Executive Director (Appointed 1 October 2019)
Ms Cooney is of Te Āti Hau Nui a Pāpā Rangi (Whanganui) descent and is a professional
independent Director with several iwi affiliated entities, as well as Chief Financial Officer for
Te Whare Wānanga o Awanuiārangi.
Ms Cooney currently serves as the acting Chair of Tourism Bay of Plenty and is a Trustee on the
Charitable Investment Trust for Ngāi Tai ki Tāmaki. She also holds roles as independent directors
on the Audit & Risk boards of Āti Hau Incorporation Limited and Ngā Tāngata Tiaki and was
previously a committee member for the Institute of Directors Bay of Plenty Branch. She was
a 2017 recipient of the Institute of Directors Emerging Director Award.

16. Investor resources
Investor Centreairnewzealand.co.nz/investor-centre
Monthly traffic updatesairnewzealand.co.nz/monthly-operating-data
Quarterly fuel hedging disclosureairnewzealand.co.nz/fuel-hedging-announcements
Corporate Governanceairnewzealand.co.nz/corporate-governance
Sustainabilityairnewzealand.co.nz/sustainability
Contact information
Emailinvestor@airnz.co.nz
Share registerenquiries@linkmarketservices.co.nz
Air New Zealand Group
Air New Zealand Databook 2019
34

Air New Zealand Databook 2019
35