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

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


August 2022 highlights









Group traffic summary
AUGUSTFINANCIAL YTD
20222021% *2018 ^% *20232022% * + 2019 ^% * ++
Passengers carried (000)1,096503117.8%1,293(15.2%)2,3631,57852.2%2,712(15.8%)
Revenue Passenger Kilometres(m)
1,715355383.3%2,829(39.4%)3,6231,203206.2%6,012(41.8%)
Available Seat Kilometres (m)2,000564254.3%3,414(41.4%)4,1691,761140.8%7,224(44.2%)
Passenger Load Factor (%)85.8%62.9%22.9 pts82.9%2.9 pts86.9%68.3%18.6 pts83.2%3.7 pts
Year-to-date RASK
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vs 2022vs 2019 ^vs 2022vs 2019 ^
Gro up5.1%49.0%4.6%50.0%
Sho rt Haul12.7%31.3%12.5%31.8%
Long Haul90.3%40.1%88.2%42.6%
% change in reported RASK (incl. FX)% change in reported RASK (excl. FX)
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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 year to date percentage movements have been adjusted on a daily weighted average basis. The adjustment takes into account the difference in days for the accounting
month of July 2018 (29 days) compared with July 2022 (31 days). This is because Air New Zealand operates on a 4,4,5 accounting calendar but closes the annual accounts on 30
June.
+ The year to date percentage movements have been adjusted on a daily weighted average basis. The adjustment takes into account the difference in days for the accounting
month of July 2021 (32 days) compared with July 2022 (31 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
^ From 1 July 2022, Honolulu flights are categorised as Americas (was Pacific) and Denpsar flights are categorised as Asia (was Pacific). All historic data has been adjusted to
reflect this change.
22 September 2022

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Operating statistics table


GroupAUGUSTFINANCIAL YTD
20222021% *2018 ^% *20232022% *+ 2019 ^% * ++
Passengers carried (000)1,096503117.
8%1,293(15.2%)2,3631,57852.2%2,712(15.8%)
Revenue Passenger Kilometres(m)
1,715355383.
3%2,829(39.4%)3,6231,203206.2%6,012(41.8%)
Available Seat Kilometres (m)2,000564254.
3%3,414(41.4%)4,1691,761140.8%7,224(44.2%)
Passenger Load Factor (%)85.8%62.9%22.9 pts82.9%2.9 pts86.9%68.3%18.6 pts83.2%3.7 pts
Short Haul T otalAUGUSTF
INANCIAL YTD
20222021% *2018 ^% *20232022% *
+ 2019 ^% * ++
Passengers carried (000)1,025499105.
3%1,117(8.2%)2,2171,57043.7%2,339(8.4%)
Revenue Passenger Kilometres(m)1,024315224.7%1,167(12.3%)2,2061,115101.2%2,476(13.9%)
Available Seat Kilometres (m)1,205441173.
5%1,432(15.8%)2,5661,50273.7%3,055(18.9%)
Passenger Load Factor (%)84.9%71.
5%13.4 pts81.5%3.4 pts86.0%74.2%11.8 pts81.0%5.0 pts
DomesticAUGUSTF
INANCIAL YTD
20222021% *2018 ^% *20232022% *+ 2019 ^% * ++
Passengers carried (000)78947865.0%830(5.0%)1,7161,45619.8%1,722(3.7%)
Revenue Passenger Kilometres(m)41125263.2%426(3.6%)89877917.3%887(2.2%)
Available Seat Kilometres (m)48433644.
0%530(8.7%)1,0349807.2%1,099(9.1%)
Passenger Load Factor (%)84.9%74.
9%10.0 pts80.4%4.5 pts86.9%79.5%7.4 pts80.7%6.2 pts
Tasman / PacificAUGUSTFINANCIAL YTD
20222021% *2018 ^% *20232022% *+ 2019 ^% * ++
Passengers carried (000)236211020.
8%286(17.6%)502114348.8%617(21.4%)
Revenue Passenger Kilometres(m)61363865.
0%740(17.3%)1,308336295.8%1,589(20.5%)
Available Seat Kilometres (m)722105589.2%902(20.0%)1,532522198.6%1,956(24.3%)
Passenger Load Factor (%)84.9%60.6%24.3 pts82.1%2.8 pts85.3%64.4%20.9 pts81.2%4.1 pts
Long Haul T otalAUGUSTF
INANCIAL YTD
20222021% *2018 ^% *20232022% *
+ 2019 ^% * ++
Passengers carried (000)7141704.6%176(59.7%)14591587.8%374(62.4%)
Revenue Passenger Kilometres(m)692401642.2%1,662(58.4%)1,417881528.8%3,536(61.3%)
Available Seat Kilometres (m)794124542.2%1,981(59.9%)1,603258530.8%4,169(62.9%)
Passenger Load Factor (%)87.1%32.
1%55.0 pts83.9%3.2 pts88.4%34.2%54.2 pts84.8%3.6 pts
AsiaAUGUSTFINANCIAL YTD
20222021% *2018 ^% *20232022% *+ 2019 ^% * ++
Passengers carried (000)2812560.7%74(62.4%)5822381.4%149(62.3%)
Revenue Passenger Kilometres(m)24392458.9%638(61.9%)509222286.0%1,286(61.8%)
Available Seat Kilometres (m)29577281.4%777(62.1%)620157301.8%1,554(61.4%)
Passenger Load Factor (%)82.4%12.3%70.1 pts82.0%0.4 pts82.0%13.8%68.2 pts82.8%(0.8 pts)
Americas / UKAUGUSTFINANCIAL YTD
20222021% *2018 ^% *20232022% *+ 2019 ^% * ++
Passengers carried (000)4331394.6%102(57.8%)8761291.0%225(62.5%)
Revenue Passenger Kilometres(m)
449301385.
7%1,025(56.2%)908671282.9%2,250(61.0%)
Available Seat Kilometres (m)49946976.6%1,204(58.5%)983101885.2%2,615(63.7%)
Passenger Load Factor (%)89.9%65.1%24.8 pts85.1%4.8 pts92.4%65.8%26.6 pts86.0%6.4 pts
* % change is based on numbers prior to rounding
++ The year to date percentage movements have been adjusted on a daily weighted average basis. The adjustment takes into account the difference in days for the accounting month
of July 2018 (29 days) compared with July 2022 (31 days). This is because Air New Zealand operates on a 4,4,5 accounting calendar but closes the annual accounts on 30 June.
+ The year to date percentage movements have been adjusted on a daily weighted average basis. The adjustment takes into account the difference in days for the accounting month of
July 2021 (32 days) compared with July 2022 (31 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.
^ From 1 July 2022, Honolulu flights are categorised as Americas (was Pacific) and Denpsar flights are categorised as Asia (was Pacific). All historic data has been adjusted to reflect
this change.

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Market Announcements
(during the period 8 September 2022 to 21 September 2022)
Air New Zealand provides half year earnings guidance for FY23 21 September 2022
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.
Air New Zealand updates start date of Chief Sustainability 20 September 2022
On 7 June 2022, Air New Zealand confirmed the appointment of Chief Sustainability Officer, Kiri Hannifin,
who was to start on 5 December 2022.
Air New Zealand is pleased to announce that Kiri will be starting earlier than originally anticipated, joining
the airline on 7 November 2022.
This announcement is made pursuant to Listing rule 3.20.1

Air New Zealand responds to media speculation 16 September 2022
Air New Zealand confirms that it has not been approached, and is not in discussions with any parties,
regarding a potential merger transaction.
Air New Zealand remains in compliance with its NZX continuous disclosure obligations.

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Media Releases
(during the period 8 September 2022 to 21 September 2022)
Air New Zealand touches down in the Big Apple 17 September 2022

Air New Zealand touched down at John F. Kennedy International Airport today, marking the first of its non-
stop flights connecting the city of sails and the city that never sleeps.

Minister of Tourism for New Zealand Hon Stuart Nash, Chair Dame Therese Walsh and Air New Zealand
Chief Executive Officer Greg Foran were onboard the inaugural flight, along with key tourism and travel
partners. Foran says the introduction of a non-stop service between Auckland and New York connects his
two favorite places.

“As one of the world’s greatest cities, Air New Zealand is proud to add the Big Apple to its list of 29
international destinations. By adding greater access to the East Coast of the US, we’re connecting our
North American customers to the possibilities of 20 destinations within New Zealand as well as the Pacific
and Australia, all within easy reach. This is terrific for our customers.”

Air New Zealand now serves seven destinations in North America – Chicago (from 31 October), Honolulu,
Houston, Los Angeles, San Francisco, Vancouver and (after much anticipation), New York City.


More time and flexibility to use Air New Zealand credits 16 September 2022

All customers who have a credit as of 30 September 2022 now have until 31 January 2024 to book a new
flight and until 31 December 2024 to take that flight. For most customers that is an extension of another 12
months.

Air New Zealand Chief Customer and Sales Officer Leanne Geraghty says this will be good news for around
500,000 customers who currently hold a credit with the airline.

"We know these customers are eager to travel, and this extension means they now have more than two
years to do so.

"A significant portion of credit balances were due to expire in January 2023 but given New Zealand's border
has only fully reopened in the last couple of months, we think it's the right thing to do to extend the expiry of
credits given customers haven't had many opportunities to use them."

Ms Geraghty says with high demand for flights and limited capacity on the network, this extension gives
customers more time to book early to take advantage of lower fares.

"By the end of October, we will have all 29 international ports up and running including our new service to
New York, and over the New Zealand summer, we'll be back at 80% of our pre-Covid international capacity.
This opens up more choice for customers on when and where they fly."

There is no need to call the contact centre as the airline will be emailing those customers who hold credits
to let them know about the good news over the coming week. Customers who booked through a third party
should contact them for more information.

Any new credits issued from 1 October 2022 will have a 12-month expiry date to book new flights and a
further 12 months to travel.

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Air New Zealand to welcome first shipment of Sustainable Aviation 15 September 2022
Fuel into Aotearoa

Air New Zealand will reach its next stop on its Flight NZ0 journey and will next week welcome the first of
many shipments of Sustainable Aviation Fuel (SAF) into Aotearoa ready to power the airline's fleet.

The 1.2 million litre import is equivalent to fueling around 400 return flights between Auckland and
Wellington and in its neat form will reduce lifecycle carbon emissions by up to 80%* compared to fossil jet
fuel.

Produced by the world’s largest SAF supplier, Neste, and imported in partnership with Z Energy, this first
shipment will be used to help test and set up the supply chain for importing SAF into New Zealand. The
SAF is made from sustainably sourced, renewable waste and residue raw materials.

As SAF is a drop in fuel it will be put into the fuel system at Marsden Point upon arrival, where it will make
its way down to Auckland airport and will be delivered to Air New Zealand through the regular jet fuel supply
chain.

Air New Zealand Chief Executive Officer Greg Foran says the airline is incredibly committed to getting the
Air New Zealand fleet up and running on SAF and this shipment marks the beginning of making regular
imports a reality.

“This is a major milestone for us. We made a commitment when we announced Flight NZ0 earlier this year
to find a more sustainable way to connect with the world. Air New Zealand is already one of the most fuel-
efficient airlines in the world with our modern fleet, but the future of travel relies on low-carbon air transport.

“While we are starting out small, it will help us to test the supply chain and understand the true cost of
importing SAF into New Zealand. Currently, SAF only makes up less than 1 percent of the global fuel supply
and is around three to five times the cost of fossil jet fuel, so while sourcing it is a challenge, it’s one we are
tackling head on. By 2030, we expect our fleet to be fueled by 10 percent SAF.”

Air New Zealand and the Ministry of Business, Innovation and Employment signed an MoU in September
last year to scope the feasibility of a local SAF facility in New Zealand. Commercially producing SAF in New
Zealand would not only help lower the country’s emissions and provide enhanced fuel security and energy
independence, it would also create jobs and economic development in the regions.

The airline continues to actively engage with the New Zealand Government to advocate for the policy and
regulatory settings required to establish a SAF market and address the price premium SAF commands.

Research, Science and Innovation Minister Dr Ayesha Verrall says the Government is working with the
aviation sector to explore ways of reducing carbon emissions.

“Air New Zealand has constantly led the way by embracing innovation, we need new solutions as we
transition to a low-emissions economy. This is why it’s encouraging to see the import of SAF. This
complements our other work as the Government is currently investigating the feasibility of SAF production in
New Zealand. Air New Zealand’s work on SAF will also support the Government’s Aerospace Strategy,
recently released for consultation”.

Sami Jauhiainen, Vice President APAC, Renewable Aviation at Neste says Neste is fully committed to
supporting the decarbonization of aviation.

“Neste has been at the forefront of accelerating the production and use of SAF. Our Neste MY Sustainable
Aviation Fuel is used across the globe by a growing number of airlines, and I am excited that our SAF will
now also be supplied to Air New Zealand in cooperation with Z Energy.

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“We are proud to support Air New Zealand and the New Zealand Government with the ambitious climate
goals that show a great example for others to follow. With the expansion of our Singapore refinery nearing
completion, and the ongoing modification of our Rotterdam refinery, we will be able to produce up to 1.5
million tons of SAF by the end of 2023, ready to support aviation globally and in the Asia-Pacific region.”

Import partner Z Energy’s Chief Executive Officer Mike Bennetts says Z is already investing in low-carbon
revenue streams that are better for both their customers and the planet.

“We support and recognise the need for SAF to become the norm in Aotearoa and it is a key part of Z’s
roadmap to support our customers on their journey to a low-carbon future. We are pleased to work
alongside Air New Zealand and Neste to bring this shipment of SAF into the country and recognise
collaboration with others will be essential to help us decarbonise at the scale and pace needed to address
climate change.”

* Calculated with established life cycle assessment (LCA) methodologies, such as CORSIA methodology.


Air New Zealand takes NASA climate science mission to new heights 13 September 2022

Air New Zealand's daily operations are now helping to enable new research into climate change, with a
ground-breaking approach to collecting data for the global scientific community.
In a world-first, Air New Zealand flight NZ8844 took off this morning from Christchurch to Nelson carrying a
NASA next-generation satellite receiver.

Using direct and reflected GPS and Galileo signals, the Global Navigation Satellite System (GNSS) receiver
will collect unique environmental data to better predict storms and enable new climate change research.

Air New Zealand is the first passenger airline in the world to join a NASA earth mission, working together
since 2020 on the design, installation and certification of the receiver onboard one of its Q300 aircraft.

Air New Zealand Chief Operational Integrity and Safety Officer Captain David Morgan says climate change
is a shared challenge and the airline does not shy away from its responsibilities to address it.

"With a network stretching from Kerikeri to Invercargill and flying at an altitude of around 16,000 feet, the
Q300 was the perfect aircraft to pilot this mission."

"Flying much closer to the land and sea than NASA's satellites, our aircraft can collect a daily feed of high-
resolution, high-quality data, with significant potential for the science community."

The University of Auckland has established a Science Payload Operations Centre to receive and process the
data in what could become New Zealand's largest source of environmental data. Project Lead, Professor
Delwyn Moller, says the collaboration will put Kiwi scientists at the forefront of this emerging field.

"The data produced by this collaboration will be made publicly available, opening up a range of research
possibilities, with many potential uses – from flood risk management to agriculture and resource planning.

"Air New Zealand's commitment to the project's success will hopefully inspire other airlines around the world
to use their own aircraft for the benefit of science."

The data collected in flight will also feed into NASA's Cyclone Global Navigation Satellite System (CYGNSS).
Dr Will McCarty, NASA's CYGNSS Program Scientist in the agency's Earth Science Division, says the data
from Air New Zealand flights will extend the CYGNSS mission to monitor environmental changes over land.

"CYGNSS bounces GPS signals off the ocean to measure wind speeds to help predict hurricanes and
cyclones. Over land, the technology can determine soil moisture levels, so it can also monitor climate change
indicators such as drought, flooding and coastline erosion.

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"The receiver that Air New Zealand is flying has advanced capabilities with the potential to be used for future
space bound missions, so we're excited to test these out."

The project to fly a next-generation GNSS-R receiver on Air New Zealand's aircraft to advance earth
observation has been gifted the name Rongowai, combining the Māori words rongo (to sense) and wai
(water).