Air New Zealand Investor Update (Op Stats) – April 2022

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Contents
• April 2022 traffic highlights
• Operating statistics table
• Recent market announcements and media releases


April 2022 highlights




















Group traffic summary
AP R I LFINANCIAL YTD
20222021% *2019% *20222021% *2019% *
Passengers carried (000)
832866(3.9%)1,431(41.9%)5,7586,904(16.6%)14,881(61.3%)
Revenue Passenger Kilometres(m)
1,03358476.8%3,062(66.3%)4,6774,
5073.8%32,465(85.6%)
Available Seat Kilometres (m)
1,29594237.5%3,560(63.6%)7,
7778,085(3.8%)38,735(79.9%)
Passenger Load Factor (%)
79.7% 62.0%17.7 pts86.0%(6.3 pts)60.1%55.8%4.3 pts83.8%(23.7 pts)
Ye a r-to-da te RASK
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% change in reported RASK (incl. FX)% change in underlying RASK (excl. FX)
vs. 2021vs. 2019vs. 2021vs. 2019
Group
(9.5%)21.4%(9.5%)21.4%
Short Haul(12.8%)12.7%(12.8%)12.7%
Long Haul8.7%(28.4%)9.2%(28.3%)
* % change is based on numbers prior to rounding.
Please note that the available seat kilometre (capacity) numbers included in the tables within this disclosure do not include any cargo-only flights.
This is because these capacity numbers are used to calculate passenger load factors and passenger RASK
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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.
2 June 2022

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Operating statistics table



GroupAP R I LFINANCIAL YTD
20222021% *2019% *20222021% *2019% *
Passengers carried (000)832866(3.9%)1,431 (41.9%)5,758 6,904 (16.6%) 14,881 (61.3%)
Revenue Passenger Kilometres(m)1,03358476.8%3,
062 (66.3%)4,677 4,5073.8%32,465 (85.6%)
Available Seat Kilometres (m)1,29594237.5%3,560 (63.6%)7,777 8,085 (3.8%) 38,735 (79.9%)
Passenger Load Factor (%)79.7% 62.0%17.
7 pts86.0%(6.3 pts)60.1% 55.8%4.3 pts83.8%(23.7 pts)
Short Haul TotalAP R I LFINANCIAL YTD
20222021% *2019% *20222021% *2019% *
Passengers carried (000)801862(
7.1%)1,256 (36.2%)5,668 6,841 (17.1%) 13,052 (56.6%)
Revenue Passenger Kilometres(m)72454832.2%1,349 (46.3%)3,774 3,884 (2.8%) 14,499 (74.0%)
Available Seat Kilometres (m)89277914.5%1,610 (44.6%)5,691 5,793 (1.8%) 17,533 (67.5%)
Passenger Load Factor (%)81.2% 70.4%10.
8 pts83.8%(2.6 pts)66.3% 67.1%(0.8 pts)82.7%(16.4 pts)
DomesticAP R I LFINANCIAL YTD
20222021% *2019% *20222021% *2019% *
Passengers carried (000)654811(19.3%)941(30.5%)5,249 6,665 (21.2%) 9,634 (45.5%)
Revenue Passenger Kilometres(m)346421(17.9%)490(
29.4%)2,651 3,475 (23.7%) 5,013 (47.1%)
Available Seat Kilometres (m)474498(4.8%)555(14.6%)3,909 4,518 (13.5%) 5,977 (34.6%)
Passenger Load Factor (%)72.9% 84.6%(11.7 pts)88.2%(15.3 pts)67.8% 76.9%(9.1 pts)83.9%(16.1 pts)
Tasman / PacificAP R I LFINANCIAL YTD
20222021% *2019% *20222021% *2019% *
Passengers carried (000)14651188.8%315(53.4%)418176137.7% 3,419 (87.8%)
Revenue Passenger Kilometres(m)
379127198.7%860(
56.0%)1,123409174.4% 9,486 (88.2%)
Available Seat Kilometres (m)41828148.
7%1,055 (60.4%)1,782 1,274 39.8% 11,556 (84.6%)
Passenger Load Factor (%)90.7% 45.1%45.6 pts81.5%9.2 pts63.0% 32.1%30.9 pts82.1%(19.1 pts)
Long Haul TotalAP R I LFINANCIAL YTD
20222021% *2019% *20222021% *2019% *
Passengers carried (000)314754.6%175(82.4%)906342.5%1,829 (95.1%)
Revenue Passenger Kilometres(m)30936754.7%1,713 (82.0%)90262344.9% 17,966 (95.0%)
Available Seat Kilometres (m)404163147.4%1,950 (79.3%)2,085 2,292 (9.0%) 21,202 (90.2%)
Passenger Load Factor (%)76.5% 22.1%54.4 pts87.9%(11.4 pts)43.3% 27.2%16.1 pts84.7%(41.4 pts)
As i aAP R I LFINANCIAL YTD
20222021% *2019% *20222021% *2019% *
Passengers carried (000)91564.1%81(89.4%)2629(12.6%)762(96.7%)
Revenue Passenger Kilometres(m)7112498.0%717(90.1%)221269(17.7%) 6,788 (96.7%)
Available Seat Kilometres (m)1211173.3%804(85.0%)9311,350 (31.0%) 8,028 (88.4%)
Passenger Load Factor (%)58.5% 10.1%48.4 pts89.2%(30.7 pts)23.8% 19.9%3.9 pts84.6%(60.8 pts)
Americas / UKAP R I LFINANCIAL YTD
20222021% *2019% *20222021% *2019% *
Passengers carried (000)222860.6%95(76.4%)643490.1%1,067 (94.0%)
Revenue Passenger Kilometres(m)23824879.4%996(76.1%)68135492.5% 11,177 (93.9%)
Available Seat Kilometres (m)28346509.
9%1,146 (75.3%)1,15494222.5% 13,174 (91.2%)
Passenger Load Factor (%)84.1% 52.4%31.7 pts86.9%(2.8 pts)59.0% 37.6%21.4 pts84.8%(25.8 pts)
* % change is based on numbers prior to rounding
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 9 May 2022 to 1 June 2022)
Air NZ issues A$550M medium term notes as part of recap 26 May 2022
Air New Zealand issues inaugural A$550 million medium term notes, completing its NZ$2.2 billion
recapitalisation package.
Air New Zealand has successfully completed its inaugural Australian Medium-Term Notes issuance,
securing debt funding of A$550 million or approximately NZ$600 million (“AMTN issuance”). The intention to
undertake the AMTN issuance was first announced on 30 March 2022 as part of Air New Zealand’s
comprehensive NZ$2.2 billion recapitalisation package.
The AMTN issuance comprises two tranches; A$300 million of 4 year fixed rate bonds maturing on 25 May
2026 and A$250 million of 7 year fixed rate bonds maturing on 25 May 2029.
This was Air New Zealand’s inaugural issue using its Australian debt issuance programme and represents a
further diversification of the airline’s funding markets. The transaction was open to institutional investors
only and has been rated Baa2 by Moody’s.
Australia and New Zealand Banking Group Limited, Citigroup Global Markets Australia Pty Limited,
Commonwealth Bank of Australia and MUFG Securities Asia Limited acted as joint lead managers on the
transaction.
Following receipt of approximately NZ$600 million in proceeds, Air New Zealand has today issued a notice
to the New Zealand Government to redeem NZ$400 million of Redeemable Shares issued to the Crown in
April and May 2022. Following completion of this redemption, which is expected occur on 2 June 2022,
NZ$200 million of Redeemable Shares will remain on issue to the Crown and are able to be redeemed at a
future date to be determined by the airline subject to a final redemption date of December 2046.
Completion of the AMTN issuance and partial redemption of the Redeemable Shares is in line with the
announcement made to the market on 30 March 2022
Air New Zealand Chair Dame Therese Walsh, said “the completion of our inaugural AMTN issuance marks
the completion of the airline’s recapitalisation package, and the start of an exciting chapter in our recovery.
With both domestic and international bookings currently showing good momentum and our first 7 weeks of
international flights already under our belt since borders reopened, we are excited for the future, and more
determined than ever to rebuild a fitter, stronger Air New Zealand.”