Air New Zealand Investor Update (Op Stats) – March 2023

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Contents
• March 2023 traffic highlights
• Operating statistics table
• Recent market announcements and media releases


March 2023 highlights




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


* % 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 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.
++ 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.
^ From 1 July 2022, Honolulu flights are categorised as Americas (was Pacific) and Denpasar flights are categorised as
Asia (was Pacific). All historic data has been adjusted to reflect this change.
1 Reported RASK (unit passenger revenue per available seat kilometre) is inclusive of foreign currency impact, and
underlying RASK excludes foreign currency impact.




Group traffic summaryMARCHFINANCIAL YTD
FY23 FY22% *FY19^% *20232022% *+ 2019^% *++
Passengers carried (000)1,625624160.4%
1,836(11.5%)11,9754,926144.0%13,450(11.6%)
Revenue Passenger Kilometres(m)3,068705335.2%3,815
(19.6%)21,1643,644482.9%29,402(28.5%)
Available Seat Kilometres (m)3,5851,162208.6%4,535(21.0%)24,2896,481276.1%35,175(31.4%)
Passenger Load Factor (%)85.6%60.7%24.9 pts84.1%1.5 pts87.1%56.2%30.9 pts83.6%3.5 pts
Year-to-date RASK
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vs 2022vs 2019^vs 2022vs 2019^
Group29.9%52.3%28.7%50.
3%
Short Haul34.4%41.4%33.5%40.
6%
Long Haul132.0%48.3%128.7%44.4%
% change in reported RASK (incl. FX)% change in reported RASK (excl. FX)
27 April 2023

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Operating statistics table


GroupFINANCIAL YTD
FY23 FY22% *FY19^% *20232022% *+ 2019^% *++
Passengers carried (000)1,625624160.4%1,836(11.5%)11,9754,926144.0%13,450 (11.6%)
Revenue Passenger Kilometres(m)3,068705335.2%3,815(19.6%)21,1643,644482.9%29,402 (28.5%)
Available Seat Kilometres (m)3,5851,162208.6%4,535(21.0%)24,2896,481276.1%35,175 (31.4%)
Passenger Load Factor (%)85.6%60.7%24.9 pts84.1%1.5 pts87.1%56.2%30.9 pts83.6%3.5 pts
Short Haul TotalFINANCIAL YTD
FY23 FY22% *FY19^% *20232022% *+ 2019^% *++
Passengers carried (000)1,460604141.8%1,611(9.4%)10,9544,867125.9%11,665(6.8%)
Revenue Passenger Kilometres(m)1,414499183.3%1,624(12.9%)10,9843,050261.4%12,227 (10.8%)
Available Seat Kilometres (m)1,632800104.1%1,922(15.1%)12,6204,800163.9%14,766 (15.2%)
Passenger Load Factor (%)86.6%62.4%24.2 pts84.5%2.1 pts87.0%63.5%23.5 pts82.8%4.2 pts
DomesticFINANCIAL YTD
FY23 FY22% *FY19^% *20232022% *+ 2019^% *++
Passengers carried (000)1,143512123.2%1,234(7.4%)8,4154,59583.8%8,692(3.9%)
Revenue Passenger Kilometres(m)590265122.5%641(8.0%)4,3852,30590.9%4,524(3.8%)
Available Seat Kilometres (m)68549538.5%740(7.4%)5,0843,43548.5%5,422(6.9%)
Passenger Load Factor (%)86.1%53.6%32.5 pts86.6%(0.5 pts)86.3%67.1%19.2 pts83.4%2.9 pts
Tasman / PacificFINANCIAL YTD
FY23 FY22% *FY19^% *20232022% *+ 2019^% *++
Passengers carried (000)31792245.8%377(16.0%)2,539272836.7%2,972(15.2%)
Revenue Passenger Kilometres(m)824234252.1%983(16.2%)6,599744789.7%7,703(14.9%)
Available Seat Kilometres (m)947305210.5%1,182(19.9%)7,5361,365454.2%9,344(19.9%)
Passenger Load Factor (%)87.0%76.7%10.3 pts83.1%3.9 pts87.6%54.6%33.0 pts82.4%5.2 pts
Long Haul TotalFINANCIAL YTD
FY23 FY22% *FY19^% *20232022% *+ 2019^% *++
Passengers carried (000)16520708.4%225(26.4%)1,021591640.4%1,785(43.2%)
Revenue Passenger Kilometres(m)1,654206703.1%2,192(24.5%)10,1805941620.4% 17,175 (41.2%)
Available Seat Kilometres (m)1,953362439.5%2,613(25.3%)11,6691,682596.4%20,409 (43.2%)
Passenger Load Factor (%)84.7%56.9%27.8 pts83.9%0.8 pts87.2%35.3%51.9 pts84.2%3.0 pts
As i aFINANCIAL YTD
FY23 FY22% *FY19^% *20232022% *+ 2019^% *++
Passengers carried (000)8151388.2%91(10.5%)447172548.3%714(37.9%)
Revenue Passenger Kilometres(m)721461482.7%810(11.0%)3,9631512540.2%6,298(37.5%)
Available Seat Kilometres (m)837132532.6%975(14.2%)4,591810468.5%7,481(39.1%)
Passenger Load Factor (%)86.2%34.4%51.8 pts83.0%3.2 pts86.3%18.6%67.7 pts84.2%2.1 pts
Americas / UKFINANCIAL YTD
FY23 FY22% *FY19^% *20232022% *+ 2019^% *++
Passengers carried (000)8415460.7%134(37.2%)574421273.8%1,071(46.8%)
Revenue Passenger Kilometres(m)933160481.7%1,382(32.4%)6,2184431307.8% 10,878 (43.3%)
Available Seat Kilometres (m)1,116230385.8%1,637(31.8%)7,078871715.4%12,928 (45.6%)
Passenger Load Factor (%)83.6%69.9%13.7 pts84.4%(0.8 pts)87.8%50.9%36.9 pts84.1%3.7 pts
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
* % 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 Denpasar 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 24 March 2023 to 27 April 2023)
Air New Zealand updates earnings guidance for FY23 27 April 2023

Air New Zealand previously provided full year earnings guidance to the market at its 2023 interim
results announced on 23 February 2023. Since this time, the airline has continued to experience
strong levels of demand on both the domestic and international networks. US dollar jet fuel prices
have also declined below those assumed in the earnings guidance provided in February 2023,
although the New Zealand dollar has also weakened over this time, reducing the impact of these
declines.

The improvements in revenue and jet fuel price are expected to be partially offset by softer cargo
revenues due to increased competitive capacity, particularly in Asia, impacting yields and load
factors.

The airline’s network capacity expectations for the second half of the financial year remain largely
unchanged from the February guidance, with approximately 95 percent of domestic and 80 percent
of international pre-Covid capacity levels across the network.

On the basis of the updates above, and assuming an average jet fuel price for the remainder of the
2023 financial year of US$95 per barrel, the airline now expects earnings before other significant
items and taxation for the 2023 financial year to be in the range of $510 million to $560 million. This
compares with the prior guidance range of $450 million to $530 million.

Ongoing fuel price volatility, global recessionary risks and inflationary pressures across the entire
supply chain remain high and have the potential to impact the final result for the 2023 financial year.

Media Releases
(during the period 24 March 2023 to 27 April 2023)
Higher wages for Air New Zealanders at major airports 29 March 2023
Air New Zealand has increased its entry wage to $30 per hour as it looks to attract around 400
outstanding people to join its Auckland, Wellington, and Christchurch airport teams.

Air New Zealand Chief People Officer Nikki Dines says the airline is continuing to ramp up
operations to meet growing demand, and a critical part of this is rebuilding its airports team.

“I’m pleased that we’re continuing to welcome more people to our whānau and that we’re in a
position to invest further in our people.”

“It’s not just new employees that will benefit from this change. We’re giving our current staff the
choice to either keep their current pay structure, with an increased hourly rate and weekend
penalty rates or switch over to a new rolled up rate, starting from $30 per hour.

“For those looking to join, this is an amazing opportunity to be part of something special. The Air
New Zealand whānau is your family away from home. At Air New Zealand, we work hard to
ensure our people are offered the same care as we offer our customers.”

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As well as increasing entry level rates, annual pay increases are provided to all airport employees,
along with opportunities to gain more skills and access further pay increases.

Over the next 13-month period from 1 March 2023 to 31 March 2024, airport workers across
Auckland, Wellington and Christchurch will receive a pay rise of between 9.5% and 26%.

“We’re looking to attract diverse, talented people who will not only help our business grow, but
also have a deep desire to help us do what we do best – keep friends and family connected.

“And we want to help them kick-start their careers and life experience through opportunities to
grow their skills and access fantastic travel benefits.”

Anyone interested in building their career in a unique, exciting industry can apply online on the Air
New Zealand Careers site - careers.airnz.co.nz


Bali, here we come! Air New Zealand resumes non-stop 29 March 2023
flights to Denpasar
From its beautiful beaches and lush, terraced rice fields to its rich culture and mouth-watering food,
Bali has plenty to offer – and it just got easier for Kiwis to experience.

Air New Zealand has now resumed its non-stop services to the popular Indonesian holiday spot for
first time in three years.

“Bali is one of our most popular routes, with more than 17,000 customers welcomed onboard our
Air New Zealand aircraft bound for Denpasar in 2019 alone,” says Air New Zealand Chief Customer
and Sales Officer Leanne Geraghty.

Flight NZ64 will be one of three non-stop flights to Denpasar a week from now until the seasonal
service wraps up for the year on October 27. The service will increase to five times a week during
the busy winter and school holiday period between 26 June and 30 July.

“It’s fantastic to be back flying non-stop services to Bali, a destination that suits every type of
traveller – whether it’s customers keen to escape the cold to the tropical beaches, families keen for
adventure or couples looking for a romantic, peaceful getaway.”

“We’re thrilled to be able to help connect New Zealanders to this holiday hot spot once again. This
is the last of all our international and seasonal routes to get up and running again post Covid, so
this certainly shows we are bouncing back.”

Bookings for Bali have been strong since the airline announced it would fly non-stop to the
destination again, with over 10,000 seats sold in the first week.

July is the most popular month for Bali holidaymakers, with 8,500 customers booked to travel as
holidaymakers look to escape winter for the school holidays. June and April are also very popular
months.

The airline will fly a 787-9 Dreamliner and customers will receive a meal, Inflight Entertainment, and
a checked bag regardless of what cabin they’re in.

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Indonesia’s Minister of Tourism and Creative Economy Sandiaga Salahuddin Uno says resuming
non-stop services is wonderful news for the country, which relies heavily on tourism.

“Bali is, and will continue to be, the icon for Indonesia’s tourism industry, making up 41 percent of
the country's total tourism, and Ngurah Rai International Airport (Denpasar International Airport) is
by far the biggest entry point for foreign tourists.”
Indonesia’s Deputy Minister for Tourism Marketing Ni Made Ayu Marthini says demand to Indonesia
has been rising rapidly.

“We are fortunate to be working with airlines partners, such as Air New Zealand, to restart their
route and fill seat capacity at least to the pre-pandemic level.

More information on where to go and what to see in Bali can be found at:
www.airnewzealand.co.nz/destination-bali or the official website of
Indonesia Tourism - Indonesia
Travel.