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

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


June 2022 highlights




Group traffic summaryJUNEFINANCIAL YTD
20222021% *+2019% *++20222021% *2019% *
Passengers carried (000)1,09790117.9%1,576(23.9%)7,7458,649(10.4%) 17,738(56.3%)
Revenue Passenger Kilometres(m)1,35673279.4%3,423(56.7%)7,1465,90821.0%38,573(81.5%)
Available Seat Kilometres (m)1,5461,12433.3%4,108(58.8%)10,65110,3043.4%46,029(76.9%)
Passenger Load Factor (%)87.7%65.2%22.5 pts83.3%4.4 pts67.1%57.3%9.8 pts83.8%(16.7 pts)
Year-to-date RASK
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vs. 2021vs. 2019vs. 2021vs. 2019
Group(2.9%)28.7%(2.9%)28.8%
Short Haul(4.5%)18.0%(4.5%)18.1%
Long Haul37.0%(11.3%)36.7%(11.1%)
% change in reported RASK (incl. FX)% change in reported RASK (excl. FX)
8 August 2022
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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.
* % change is based on numbers prior to rounding
+ The month's 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 June 2021 (31 days) compared with June 2022 (32 days). This is because Air New Zealand operates on a 4,4,5 accounting calendar but closes
the annual accounts on 30 June.
++ The month's 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 June 2019 (35 days) compared with June 2022 (32 days). This is because Air New Zealand operates on a 4,4,5 accounting calendar but closes
the annual accounts on 30 June.
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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Operating statistics table
GroupJUNEFINANCIAL YTD
20222021% *+ 2019% *++20222021% *2019% *
Passengers carried (000)1,09790117.9%1,576(23.9%)7,7458,649(10.4%) 17,738(56.3%)
Revenue Passenger Kilometres(m)1,35673279.4%3,423(56.7%)7,1465,90821.0%38,573(81.5%)
Available Seat Kilometres (m)1,546 1,12433.3%4,108(58.8%)10,651 10,3043.4%46,029(76.9%)
Passenger Load Factor (%)87.7% 65.2%22.5 pts83.3%4.4 pts67.1% 57.3%9.8 pts83.8%(16.7 pts)
Short Haul TotalJUNEFINANCIAL YTD
20222021% *+ 2019% *++20222021% *2019% *
Passengers carried (000)1,05089613.5%1,379(16.7%)7,5708,577(11.7%) 15,557(51.3%)
Revenue Passenger Kilometres(m)88469024.1%1,484(34.8%)5,3895,2083.5%17,152(68.6%)
Available Seat Kilometres (m)1,0169691.6%1,822(39.0%)7,5947,694(1.3%) 20,744(63.4%)
Passenger Load Factor (%)87.1% 71.2%15.9 pts81.5%5.6 pts71.0% 67.7%3.3 pts82.7%(11.7 pts)
DomesticJUNEFINANCIAL YTD
20222021% *+ 2019% *++20222021% *2019% *
Passengers carried (000)8787878.1%1,025(6.2%)6,8368,191(16.5%) 11,513(40.6%)
Revenue Passenger Kilometres(m)4443997.8%512(5.1%)3,4524,244(18.6%) 5,957(42.0%)
Available Seat Kilometres (m)5435103.3%627(5.2%)4,9295,480(10.1%) 7,104(30.6%)
Passenger Load Factor (%)81.7% 78.3%3.4 pts81.7%- 70.1% 77.4%(7.3 pts)83.9%(13.8 pts)
Tasman / PacificJUNEFINANCIAL YTD
20222021% *+ 2019% *++20222021% *2019% *
Passengers carried (000)17110952.4%354(47.1%)73438690.3%4,044(81.8%)
Revenue Passenger Kilometres(m)44029146.5%972(50.5%)1,937964101.0% 11,195(82.7%)
Available Seat Kilometres (m)472459(0.4%)1,195(56.8%)2,6652,21420.4%13,640(80.5%)
Passenger Load Factor (%)93.2% 63.4%29.8 pts81.3%11.9 pts72.7% 43.5%29.2 pts82.1%(9.4 pts)
Long Haul TotalJUNEFINANCIAL YTD
20222021% *+ 2019% *++20222021% *2019% *
Passengers carried (000)475870.8%197(74.0%)17572145.2%2,181(92.0%)
Revenue Passenger Kilometres(m)47242980.8%1,939(73.4%)1,757700150.8% 21,421(91.8%)
Available Seat Kilometres (m)531155231.2%2,285(74.6%)3,0572,61017.1%25,285(87.9%)
Passenger Load Factor (%)88.9% 27.2%61.7 pts84.8%4.1 pts57.5% 26.8%30.7 pts84.7%(27.2 pts)
As i aJUNEFINANCIAL YTD
20222021% *+ 2019% *++20222021% *2019% *
Passengers carried (000)151974.8%81(80.0%)513261.6%914(94.4%)
Revenue Passenger Kilometres(m)13112926.3%722(80.1%)44529252.4%8,140(94.5%)
Available Seat Kilometres (m)17410659.1%907(79.0%)1,2291,572(21.8%) 9,699(87.3%)
Passenger Load Factor (%)75.6% 11.7%63.9 pts79.6%(4.0 pts)36.2% 18.6%17.6 pts83.9%(47.7 pts)
Americas / UKJUNEFINANCIAL YTD
20222021% *+ 2019% *++20222021% *2019% *
Passengers carried (000)323828.8%116(69.8%)12440212.2%1,267(90.2%)
Revenue Passenger Kilometres(m)340301003.5%1,217(69.4%)1,312408221.2% 13,281(90.1%)
Available Seat Kilometres (m)35749599.5%1,379(71.7%)1,8281,03876.0%15,586(88.3%)
Passenger Load Factor (%)95.4% 60.4%35.0 pts88.3%7.1 pts71.8% 39.3%32.5 pts85.2%(13.4 pts)
* % change is based on numbers prior to rounding
++ The month's 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 June 2019 (35 days) compared with June 2022 (32 days). This is because Air New Zealand operates on a 4,4,5 accounting calendar but closes the
annual accounts on 30 June.
+ The month's 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 June 2021 (31 days) compared with June 2022 (32 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 6 July 2022 to 7 August 2022)
Air New Zealand 2022 Annual Results Webcast Details 20 July 2022
Air New Zealand’s 2022 annual results will be announced before NZX trading begins on Thursday 25 August
2022.
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

Nomination of Directors 13 July 2022
Director nominations are open and will close at 5.00pm on Thursday 28 July 2022. Nominations must be
made in writing and may only be made by a security holder entitled to attend and vote at the Annual
Shareholders’ Meeting.
Nominations should be directed to the Company Secretary at Air New Zealand, Private Bag 92007, Auckland
1142. Nominations must be accompanied by the written consent of the person being nominated as well as
their brief biographical details (for inclusion in the Notice of Meeting).
This announcement is made pursuant to Listing Rule 2.3.2.
Air New Zealand Director Update 8 July 2022
Air New Zealand confirms that Chair Dame Therese Walsh, and Director Jonathan Mason, will stand for re-
election at the airline’s Annual Shareholder Meeting in September 2022. Jonathan has been a director of the
airline for 9 years and has agreed, subject to re-election, to serve for a maximum further term of one year to
allow for continuity following recent board appointments. He will step down in 2023. Succession planning for
when Jonathan steps down is currently underway.
This announcement is made pursuant to Listing Rule 3.20.1
Amendments to Trust Deed for Air New Zealand retail bond 8 July 2022
Air New Zealand Limited currently has retail fixed rate bonds on issue with the ticker code AIR020 (Bonds).
This announcement is to confirm that Air New Zealand has amended and restated the trust deed for the
Bonds dated 12 October 2016 (the Trust Deed).

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Amendments to the Trust Deed have been made to reflect updates to legislation and current market practice
for a master trust deed structure. The amendments have been agreed with The New Zealand Guardian Trust
Company Limited (as supervisor of the Bonds). Under the Financial Markets Conduct Act 2013 and the Trust
Deed, these amendments do not require approval of Bondholders on the basis that the supervisor is satisfied
that the amendments do not materially adversely affect Bondholders.
A copy of the Trust Deed (as amended and restated) can be found on Air New Zealand’s website at
https://www.airnewzealand.co.nz/bond.
Media Releases
(during the period 6 July 2022 to 7 August 2022)
Air New Zealand second airline globally to announce ambitious 4 August 2022
science-based emissions reduction target

Air New Zealand has taken another important step on its Flight NZ0 journey by setting an ambitious science-
based target to reduce carbon emissions by 2030.

The interim target, validated by the Science Based Targets initiative
(SBTi), requires a 28.9% reduction in
carbon intensity by 2030, from a 2019 baseline. This equates to a 16.3% reduction in absolute emissions over
the period.

Science-based targets validated by the SBTi show companies how much and how quickly they need to reduce
their greenhouse gas (GHG) emissions to prevent the worst effects of climate change. Setting a science-
based target allows businesses to set a robust and credible carbon reduction target that is independently
assessed to ensure it aligns with the latest climate science.

Air New Zealand Chief Operational Integrity and Safety Officer David Morgan says this is a critical milestone
on the airline’s journey to net zero carbon emissions by 2050 as it provides a clear signal of where we need
to be by 2030, in order to meet the 2050 goal.

“This interim target will drive activity today and set the airline up for success in achieving its net zero 2050
target.”

“Getting the target validated by the SBTi was a rigorous process and something we are incredibly proud to
have achieved. Our GHG emissions were reviewed in detail by the SBTi to ensure we had an accurate
emissions baseline and science-based target set.

“This target makes us accountable today. Implementing our decarbonisation roadmap will be critical to
achieving this target – with sustainable aviation fuel (SAF), continued fleet renewal, operational efficiency,
and zero emissions aircraft technologies all playing a role.
“Our key focus areas are SAF and the adoption of zero emissions aircraft technologies as they have the
potential to reduce our emissions by approximately 70% by 2050. We already have several initiatives in the
works including a partnership with the Government to scope the feasibility of a SAF production plant in New
Zealand and our world-leading Product Requirements Document currently in market to accelerate the
development of hydrogen, electric, and hybrid aircraft. These are the initiatives that will drive real change in
reducing our emissions and we’re incredibly focused on delivering them as quickly as possible.”
Chair of Air New Zealand’s external Sustainability Advisory Panel Sir Jonathon Porritt says there are two
things all passengers should look to when assessing an airline’s response to accelerating climate change:
ambition level and trustworthiness.

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“In a sector where it will be challenging to make rapid and authentic change, Air New Zealand is to be
congratulated on setting this science-based target to demonstrate its sincerity of intent. A 16.3% absolute
reduction by 2030 is certainly achievable, but it will
be hard. And its readiness to be held to account by the SBTi (and other stakeholders) is significant.

“As the world continues to understand the full extent of the climate emergency, every airline will need to set
equivalent targets - and then deliver on them, come what may.”

Tālofa lava Samoa: Air New Zealand welcomes Samoa borders opening 29 July 2022

Air New Zealand is excited to reunite friends and aiga (family) in Samoa when the Pacific Island nation opens
its borders to the world. After more than two years of the country’s borders being closed, Flight NZ990 will
touch down in Apia on Tuesday 2 August, giving those on the booked-out flight an opportunity to reunite with
their loved ones.

Air New Zealand’s Country Manager Samoa Karen Gatt says the airline has seen strong demand for August,
with flights sold out for the whole month and a large number of family group bookings.

“Demand for flights continues to be strong right through to the Christmas and school holiday period, as
customers want to spend the festive season with their aiga, something many of them haven’t been able to do
during the pandemic.”

“Next Tuesday will be a significant day for the community in Samoa. I expect there will be lots of emotional
welcomes and smiles at the airport.”

The moment is especially meaningful for the Air New Zealand cabin crew onboard the flight. Air New Zealand
Flight Attendant Jireh Lalotoa Peniata says he feels honoured to crew the first flight.

“Being a proud Samoan myself, I'm not only grateful that I get to serve our people, but I also know how
important the value of aiga (family) means to us; so knowing that we will finally be able to reunite families with
their loved ones after so long is extra special.”

Apia is the latest in a string of Air New Zealand’s Pacific Island ports to reopen over the last few weeks,
including New Caledonia, Tahiti and Tonga.

During the pandemic, the airline operated cargo only flights and services to bring returning Samoan citizens
home. From Tuesday (August 2), the airline will operate four passenger flights a week to Samoa, increasing
to five flights a week from October, and daily from November as demand is expected to grow.

Customers on NZ990 on Tuesday will be in for some surprises on the flight and will also be greeted with a
traditional Siva when they arrive in Samoa.

Winter woes? Air New Zealand extends Covid flexibility 15 July 2022
policy to 31 August 2022
As winter illness sets in, more than 20,000 Air New Zealand customers have opted to stay home these school
holidays, making use of the airline’s Covid flexibility policy.
Air New Zealand Chief Executive Officer Greg Foran says over the last week around 57,000 customers have
been in touch, with many calling to change travel plans.
“It’s not just Covid, it’s the winter flu and weather disrupting plans. That’s why we’ve chosen to extend our
Covid flexibility policy through to 31 August. Customers can opt into credit or make a change to their booking
with change fees waived, whatever the reason. No questions asked.

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“This weekend alone we have 130,000 customers travelling domestically and internationally. It’s our busiest
period in two years and we’re all hands-on deck. We’ve had our office-based staff helping out cleaning aircraft
and assisting at our airports in peak times to support customers and our frontline.
“There’s no doubt it’s a challenging time for everyone. It’s been more than two years of hard mahi, and
unfortunately, we’re not out of the woods yet. Around the world, we’re seeing the disruption continue to bite.
We’ve avoided the worst of it here in Aotearoa, and most of our customers are getting to where they need to
go. This extra flexibility will give customers a few more options to defer travel to sunnier times.”
Customers booked between now and 31 August can hold the value of their fare in credit for 12 months, from
the time they requested their credit.
Customers can easily opt into credit via the Air New Zealand app or website in the Manage Booking tab, by
selecting request a credit. They can also use the app or website to change their flights to another date and
have their change fee waived, though a fare difference may apply.

Air New Zealand brings back Covid Flexibility Policy to help customers 9 July 2022
In response to increasing levels of illness in the community, Air New Zealand is reintroducing its Covid
Flexibility Policy until 31 July, offering customers the flexibility of opting into credit if they are no longer able
to travel.
The airline is hearing from a large number of customers who are falling sick with Covid or other winter illnesses
and can no longer travel. It’s also seeing higher-than-usual employee sickness leading to flight cancellations.
The airline is temporarily bringing back its Covid Flexibility Policy, which allows customers travelling around
New Zealand or overseas to cancel their travel if they are unwell and either put their booking into credit or
change their flight and have their change fee waived.
Air New Zealand Chief Customer and Sales Officer Leanne Geraghty says the decision is the right thing to
do by the airline’s customers.
“With more than 670,000 customers booked to travel with us in the next two weeks alone, it’s likely that some
will find themselves in a position where they can no longer fly due to illness or looking after unwell family
members.
“This change will give them the flexibility to change their plans, so they don’t miss out on their holidays or
being reunited with friends and whānau, and they can still get to where they want to be at a later time.”
Customers booked between now and 31 July can hold the value of their fare in credit for 12 months from the
time they requested their credit. Customers are encouraged to only contact the team if their flight is departing
within the next 48 hours and to check out Air New Zealand’s Travel Alerts page before getting in touch.
Customers who booked through a travel agent or third-party online agent should contact them directly about
making changes to their bookings or credit validity.
Air New Zealand increases capacity to Los Angeles and Seoul 7 July 2022
Air New Zealand will boost capacity between Auckland and two of its popular destinations - Los Angeles and
Seoul, adding an additional 21,200 seats between the two routes.
Between 15 August and 29 October 2022, Air New Zealand will increase frequency between Auckland and
Los Angeles from seven to ten services per week on its Boeing 787-9 Dreamliner aircraft to complement its
daily Boeing 777 service.

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Services between Auckland and Seoul will increase from one per week to two a week between 12 September
and 24 October 2022 and will operate on a Boeing 787-9 Dreamliner aircraft.
Air New Zealand Chief Customer Sales Officer Leanne Geraghty says the changes come in response to
pent up demand from customers travelling in both directions.

“With the New Zealand border fully opened and the reduction in Covid travel restrictions, customers are
telling us they’re ready to travel. With the return of international tourism, these additional flights will give
customers more options and opportunities to experience the joy of travel once again.”
“The extra capacity will add 33% more seats on the Los Angeles route each week and double that on Seoul.
This extra capacity will ensure we meet the growing demand we’ve been seeing for travel over the last month.”