Air New Zealand Investor Update (Op Stats) – April 2024

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Contents
• April 2024 traffic highlights and commentary
• Operating statistics table
• Recent media releases


April 2024 Commentary

• The overall increase in Group capacity was largely driven by resumption of the international
network following the full re-opening of New Zealand’s borders post-Covid. Long-haul
international ASKs increased 7.3%, short-haul international ASKs increased 3.9%, while
domestic ASKs were down slightly 2.0% compared to last year.
• The decline in Group YTD RASK compared to the prior year was driven by the significant
mix change for the 2024 financial year to date, whereby long-haul capacity growth and load
factors were substantially higher relative to short-haul.
• Short-haul YTD RASK, which includes the Domestic, Tasman and Pacific islands networks
declined 7.0% compared to last year. This was driven by a Tasman and Pacific islands YTD
RASK decline, offset by a small increase in Domestic YTD RASK.
• Long-haul YTD RASK declined 14.7% driven by both North American and to a lesser extent,
Asian routes. Intense international competition features heavily in the current trading
environment, particularly for North America. US competitors have not yet returned to China
at scale, and for now have directed some of that additional capacity to the New Zealand
market, putting pressure on yields.
• As previously disclosed at the 2024 interim results announcement, $45 million in Covid-
related credits were applied to passenger revenue for the period to 31 December 2024.
These credits are not allocated to a particular route group in this document.
















27 May 2024

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April 2024 highlights




















Group traffic summary
AP R I L
FINANCIAL YTD
FY24 FY23% *20242023% *+
Passengers carried (000)1,2801,2522.2%13,86613,2265.2%
Revenue Passenger Kilometres(m)
2,6962,5724.8%28,80923,73521.8%
Available Seat Kilometres (m)3,2703,1214.8%35,21927,40928.9%
Passenger Load Factor (%)82.4%82.4%- 81.8%86.6%(4.8 pts)
Year-to-date RASK
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vs 2023vs 2023
Group(13.7%)(14.0%)
Short Haul(7.0%)(7.0%)
Long Haul(13.9%)(14.7%)
% change in reported
RASK (incl. FX)
% change in reported
RASK (excl. FX)
1 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
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
+ The month 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 2022 (31 days) compared with July 2023 (30 days). This is
because Air New Zealand operates on a 4,4,5 accounting calendar but closes the annual accounts on 30 June.

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* % 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 2022 (31 days) compared with July 2023 (30 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.
Operating statistics table





GroupAP R I LFINANCIAL YTD
FY24
FY23% *20242023% *+
Passengers carried (000)
1,280
1,2522.2%13,86613,2265.2%
Revenue Passenger Kilometres(m)2,6962,5724.8%28,80923,73521.8%
Available Seat Kilometres (m)3,2703,1214.8%35,21927,40928.9%
Passenger Load Factor (%)82.4%82.4%- 81.8%86.6%(4.8 pts)
Short Haul TotalAP R I LFINANCIAL YTD
FY24 FY23% *20242023% *+
Passengers carried (000)1,1231,1051.6%12,25712,0592.0%
Revenue Passenger Kilometres(m)
1,1971,1365.4%12,97612,1197.4%
Available Seat Kilometres (m)
1,4071,3851.6%15,30414,0049.6%
Passenger Load Factor (%)85.0%82.0%3.0 pts84.8%86.5%(1.7 pts)
DomesticAP R I LFINANCIAL YTD
FY24
FY23% *20242023% *+
Passengers carried (000)828
836(1.0%)9,0519,251(1.8%)
Revenue Passenger Kilometres(m)433435(0.4%)4,7214,819(1.7%)
Available Seat Kilometres (m)517527(2.0%)5,5425,611(0.9%)
Passenger Load Factor (%)83.7%82.4%1.3 pts85.2%85.9%(0.7 pts)
Tasman / Pacific
AP R I LFINANCIAL YTD
FY24 FY23% *20242023% *+
Passengers carried (000)2952699.6%3,2062,80814.5%
Revenue Passenger Kilometres(m)7647019.0%8,2557,30013.5%
Available Seat Kilometres (m)
8908573.9%9,7628,39316.7%
Passenger Load Factor (%)85.8%81.8%4.0 pts84.6%87.0%(2.4 pts)
Long Haul TotalAP R I LFINANCIAL YTD
FY24 FY23% *20242023% *+
Passengers carried (000)157
1476.7%1,6091,16938.2%
Revenue Passenger Kilometres(m)1,499
1,4364.3%15,83311,61636.7%
Available Seat Kilometres (m)1,863
1,7367.3%19,91513,40549.1%
Passenger Load Factor (%)80.4%82.7%(2.3 pts)79.5%86.7%(7.2 pts)
As i a
AP R I LFINANCIAL YTD
FY24 FY23
% *20242023% *+
Passengers carried (000)898010.4%84752761.1%
Revenue Passenger Kilometres(m)
7596988.8%7,4504,66060.4%
Available Seat Kilometres (m)93182912.3%8,9335,42065.4%
Passenger Load Factor (%)81.5%84.2%(2.7 pts)83.4%86.0%(2.6 pts)
Americas / UK
AP R I LFINANCIAL YTD
FY24 FY23% *20242023% *+
Passengers carried (000)
68662.2%76264019.3%
Revenue Passenger Kilometres(m)7407390.1%8,3836,95620.9%
Available Seat Kilometres (m)9329072.7%10,9827,98638.0%
Passenger Load Factor (%)79.3%81.4%(2.1 pts)76.3%87.1%(10.8 pts)

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Media Releases
(during the period 1 May 2024 to 26 May 2024)
Air New Zealand announces changes to Sustainability Advisory Panel 1 May 2024
Air New Zealand is pleased to welcome two new members to its Sustainability Advisory Panel, including
former Green Party Co-Leader and Minister for Climate Change, James Shaw and Matteo Mirolo, the
Head of Policy and Strategy in the Aviation Contrails team at Bill Gates’ Climate Foundation’s energy
startup, Breakthrough Energy.
Air New Zealand’s Chief Sustainability Officer, Kiri Hannifin, says James Shaw’s dedication to
progressing New Zealand’s lower carbon future through the Zero Carbon Act has been transformational
for future generations, as has the urgency and passion he has brought to the topic of climate change
through his political career.
“Aviation has a significant challenge to transition away from fossil fuels – it's hard, complex and
expensive,” says Ms Hannifin. “But if we want to continue our role to connect New Zealanders, our
tourism and trade to the world for the foreseeable future, we must decarbonise or risk being left behind.
“Outside expertise is critical to helping us navigate this, and we’re incredibly privileged to welcome
someone of James Shaw’s calibre to our Sustainability Advisory Panel. His tenacity, passion for New
Zealand’s unique biodiversity, and strong knowledge of climate science will all play a valuable role in
helping Air New Zealand steer and stay the course.”
Mr Shaw says “I am really pleased to be joining the Air New Zealand Sustainability Advisory Panel at a
time when the airline and the entire industry face the huge challenge of transitioning to net-zero. Air
New Zealand has for many years demonstrated that they are not shy about engaging with this challenge
and, in fact, want to lead on it. My aim will be to both challenge and support the airline to go first and
show the way.”
Mr Shaw joins the panel following the recent resignation of Sam Mostyn AO as Panel Chair, due to her
appointment as Governor-General of Australia.
“We’re so proud of Sam and thank her wholeheartedly for the significant role she has played in Air New
Zealand’s sustainability journey,” says Ms Hannifin.
“Her appointment as Governor-General reflects the high level of integrity and authenticity she brings to
her work, and we wish her all the best as she transitions to her new role.”
In March, Air New Zealand also welcomed Matteo Mirolo to its Sustainability Advisory Panel. In Matteo’s
current role, he leads research into contrails and non-CO
2
aviation emissions. Before this, Matteo was
the Aviation Manager at Transport and Environment, the European Union’s largest transport non-
governmental organisation where he led their aviation programme, focusing on sustainable aviation fuel.
“Being Europe-based, Matteo brings not only his considerable expertise to the table but also a vital
international context and best practice which Air New Zealand is eager to understand and learn from,”
says Ms Hannifin.
Air New Zealand’s Sustainability Advisory Panel advises the airline’s sustainability team, Executive, and
Board on key issues such as Sustainable Aviation Fuel, emissions, regulatory and global trends and
challenges. It aims to provide an external perspective to Air New Zealand’s sustainability work, together
with world-class thinking. Click here for further information and members.