Air NZ provides half year earnings guidance for FY23

Air New Zealand postal address: Private Bag 92007, Auckland, 1142, New Zealand
Investor Relations email: investor@airnz.co.nz Investor website:
www.airnewzealand.co.nz/investor
Stock exchange listings: New Zealand (NZX: AIR) / Australia (ASX: AIZ) / ADR (OTC : ANZLY)
MARKET ANNOUNCEMENT











21 September 2022

Air New Zealand provides half year earnings guidance for FY23

Air New Zealand has continued to see strong forward sales over the first three months
of the financial year, particularly for travel through to January 2023 and continues to
operate approximately 70 percent of FY19 capacity. On the basis that this forward sales
strength continues over the coming quarter, with similar capacity and assuming an
average jet fuel price of approximately US $130/bbl, the airline currently expects
earnings before taxation and other significant items for the first half of the 2023 financial
year to be in the range of $200 million to $275 million.
The airline notes that fuel prices remain highly volatile and that this is one of many factors
that have the potential to slow our recovery and significantly impact earnings.
Additionally, demand in the second half of the financial year remains highly uncertain.
On this basis and taking into account global recessionary risks and other
macroeconomic factors including inflationary pressures on costs, the airline is not
providing full year guidance at this time. The airline strongly cautions against
extrapolating first half FY23 earnings guidance to the full year given the many
uncertainties in the trading environment.

Ends.

This announcement has been authorised for release to NZX and ASX by:

Jennifer Page
General Counsel & Company Secretary
jennifer.page@airnz.co.nz

+64 27 909 0691

For investor relations questions, please contact:
Kim Cootes
Head of Investor Relations
kim.cootes@airnz.co.nz
+64 27 297 0244