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

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Contents
• November 2024 traffic highlights and commentary
• Operating statistics table
• Recent market announcements and media releases


November 2024 Commentary
• Group capacity was up 3.9% in November compared to the same month last year. Long-
haul international ASKs increased 5.7%, short-haul international ASKs increased 1.4%, and
domestic ASKs were up 2.2% compared to last year.
• Of note, Domestic performance for November 2024 was positively impacted by several high-
profile concerts and events driving increased leisure demand on the network.
• Group YTD underlying RASK declined 0.5% compared to the prior year.
• Short-haul YTD RASK, which includes the Domestic, Tasman and Pacific islands networks
declined 2.0% compared to last year, driven by lower Domestic demand.
• Long-haul YTD RASK deteriorated slightly by 0.2% compared to last year. While some Asian
routes have benefitted from improved yields in the current year, North America is still
impacted by intense competition compared to the prior comparative period.












18 December 2024

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November 2024 highlights













Group traffic summary
NOVEMBERFINANCIAL YTD
FY25FY24
%
1, 2
20252024
%
1, 2
Passengers carried (000)1,3041,2980.5%6,4556,711(2.5%)
Revenue Passenger Kilometres(m)2,5442,4653.2%13,61314,115(2.3%)
Available Seat Kilometres (m)3,1183,0023.9%16,38017,281(3.9%)
Passenger Load Factor (%)81.6%82.1%(0.5 pts)83.1%81.7%1.4 pts
Year-to-date RASK
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vs 2024vs 2024
Gro up(0.5%)(0.5%)
Sho rt Haul(1.9%)(2.0%)
Long Haul(0.3%)(0.2%)
% change in reported RASK
(incl. FX)
% change in reported RASK
(excl. FX)
3
Reported RASK (unit passenger revenue per available seat kilometre) is inclusive of foreign currency impact, and
underlying RASK excludes foreign currency impact.
1
% change is based on numbers prior to rounding
2
The 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 2023 (30 days) compared with July 2024 (28 days) and June 2024 (35
days) compared with June 2025 (36 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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Operating statistics table


GroupNOVEMBERFINANCIAL YTD
FY25FY24
%
1, 2
20252024
%
1, 2
Passengers carried (000)1,3041,2980.5%6,4556,711(2.5%)
Revenue Passenger Kilometres(m)2,5442,4653.2%13,61314,115(2.3%)
Available Seat Kilometres (m)3,1183,0023.9%16,38017,281(3.9%)
Passenger Load Factor (%)81.6%82.1%(0.5 pts)83.1%81.7%1.4 pts
Short Haul T otalNOVEMBERFINANCIAL YTD
FY25FY24
%
1, 2
20252024
%
1, 2
Passengers carried (000)1,1681,172(0.3%)5,6715,900(2.6%)
Revenue Passenger Kilometres(m)
1,2311,2081.9%6,1626,1771.1%
Available Seat Kilometres (m)1,4031,3791.7%7,2327,421(1.2%)
Passenger Load Factor (%)87.7%87.6%0.1 pts85.2%83.2%1.9 pts
DomesticNOVEMBERFINANCIAL YTD
FY25FY24
%
1, 2
20252024
%
1, 2
Passengers carried (000)871882(1.2%)4,1354,378(4.3%)
Revenue Passenger Kilometres(m)
455456(0.2%)2,1452,253(3.5%)
Available Seat Kilometres (m)5275152.2%2,5922,702(2.8%)
Passenger Load Factor (%)86.4%88.5%(2.1 pts)82.8%83.4%(0.6 pts)
Tasman / PacificNOVEMBERFINANCIAL YTD
FY25FY24
%
1, 2
20252024
%
1, 2
Passengers carried (000)2972902.4%1,5361,5222.3%
Revenue Passenger Kilometres(m)7767523.2%4,0173,9243.7%
Available Seat Kilometres (m)8768641.4%4,6404,719(0.3%)
Passenger Load Factor (%)88.6%87.0%1.6 pts86.6%83.2%3.4 pts
Long Haul T otalNOVEMBERFINANCIAL YTD
FY25FY24
%
1, 2
20252024
%
1, 2
Passengers carried (000)1361267.3%784811(2.0%)
Revenue Passenger Kilometres(m)1,3131,2574.4%7,4517,938(4.9%)
Available Seat Kilometres (m)1,7151,6235.7%9,1489,860(6.0%)
Passenger Load Factor (%)76.6%77.5%(0.9 pts)81.5%80.5%1.0 pts
AsiaNOVEMBERFINANCIAL YTD
FY25FY24
%
1, 2
20252024
%
1, 2
Passengers carried (000)766713.6%4444343.7%
Revenue Passenger Kilometres(m)66960310.9%3,7703,7821.0%
Available Seat Kilometres (m)87370424.1%4,5854,5372.4%
Passenger Load Factor (%)76.7%85.7%(9.0 pts)82.2%83.3%(1.2 pts)
AmericasNOVEMBER
FY25FY24
%
1, 2
20252024
%
1, 2
Passengers carried (000)60590.1%340377(8.6%)
Revenue Passenger Kilometres(m)644654(1.5%)3,6814,156(10.2%)
Available Seat Kilometres (m)842919(8.4%)4,5635,323(13.1%)
Passenger Load Factor (%)76.5%71.1%5.4 pts80.7%78.1%2.6 pts
FINANCIAL YTD
1
% change is based on numbers prior to rounding
2
The 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 2023 (30 days) compared with July 2024 (28 days) and June 2024 (35 days) compared with June 2025 (36 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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Media Releases
(during the period 28 November 2024 to 17 December 2024)
Mission Next Gen Aircraft announces Technical Demonstrator 12 December 2024
Programme with BETA Technologies’ aircraft flying in Aotearoa from 2025
Air New Zealand’s dream to fly its first electric aircraft around Aotearoa is a step closer with the
announcement it will fly a battery-electric aircraft in a technical demonstrator programme based in
Hamilton and Wellington from mid-2025.
This brings an ALIA aircraft to Aotearoa one year earlier than the airline’s commercial cargo services
between Wellington and Blenheim begins in 2026. Flying the ALIA CX300 aircraft, manufactured in the
US by partner BETA Technologies, throughout 2025 will allow the airline to understand how this new
technology performs in New Zealand, begin pilot and crew familiarisation, and allow ample time to share
the technology with New Zealanders.
The ALIA CX300 programme will initially be based out of Hamilton Airport where it will complete a series
of proving flights. From there, Air New Zealand and BETA teams will gradually expand flights to
surrounding airports before making the journey to Wellington, where it will complete flights designed to
replicate the cargo operation planned in 2026 with New Zealand Post.
Chief Corporate Affairs and Sustainability Officer Kiri Hannifin says while this aircraft won’t be operating
commercially in 2025, it will give the airline and the wider New Zealand aviation system a fantastic
opportunity to understand its smallest but most exciting addition to the fleet.
“We’re so thrilled to be moving into the next generation of aviation. This future is one where we can fulfil
our purpose to connect New Zealanders but with much lower emissions – something we are deeply
committed to expediating as quickly as we can to help meet our 2050 net zero target. The technology
behind this aircraft is incredible, and we’re very proud to be able to bring it to Aotearoa a little earlier to
show the country what the future of domestic air travel could look like.
“Some of our Air New Zealand pilots will have the opportunity to learn to operate the aircraft alongside
BETA pilots. This not only allows them to gain experience on a completely new type of aircraft, but it will
also guide the airline’s work to develop the processes and policies required to operate the aircraft
commercially in 2026,” said Kiri Hannifin.
BETA's founder and CEO, Kyle Clark, said they have been very impressed with Air New Zealand's
practical, operations-focused approach from the very beginning of this process.
“They have leaned all the way in, working with us step by step to set solid foundations across every part
of the ecosystem to ensure successful entry into service. The Tech Demonstrator and chargers will allow
us to collect data and refine the operations so Air New Zealand can hit the ground running with low-cost
electric service upon delivery of their first certified aircraft.” said Kyle Clark
The airline has also invested in the required charging facilities to support the operation. 60kW mobile
chargers will be based at Hamilton, Wellington and Blenheim airports and will recharge the aircraft in
around 90 minutes.
Upcoming adjustments to Air New Zealand domestic network 3 December 2024
The airline is announcing some minor changes to its domestic and regional schedule as part of its regular
network review process. The changes will be applied between February and June 2025.

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Air New Zealand constantly reviews its network to ensure it is responding to market dynamics. Domestic
flying continues to be impacted by softer demand, particularly across corporate and government
customers, and at the same time, operating costs continue to rise. This environment has led to today’s
announcement to make some small changes in the areas most impacted by less flying.
Air New Zealand General Manager Domestic, Scott Carr notes that the airline has been responding to
the domestic economy for a number of months now and today’s changes are a continuation of the
airline’s ability to adapt to the changing market while still meeting the needs of the communities the
airline serves.
“Like other airlines in Aotearoa, our domestic business continues to be impacted by challenging
conditions, including high operating costs and soft domestic demand, particularly across corporate and
government customers. As a result, we’ve made some changes to our services in the areas where we
are seeing the most impact from less flying. We understand these changes will affect some of our
customers' upcoming travel plans and as always, we’ll work with everyone impacted to rebook their
travel.
“These reductions not only allow us to more appropriately respond to the level of demand we are
experiencing, but they also give the airline a small amount of resilience to improve recovery options in
the event of a flight disruption on our regional network. We will continue to monitor domestic demand
and will review the schedule from July onwards closer to the time.”
The changes to the schedule will be made on Monday 9 December 2024 and will result in 2% fewer
seats on the domestic network over a short four-month period.
Customers with flights on these routes between February and June 2025 will be contacted directly with
alternative options if their flight has been impacted. Customers do not need to contact Air New Zealand
proactively.
Airpoints updates land more rewards for members 29 November 2024
Air New Zealand’s Airpoints members are now collectively earning over one million Airpoints
Dollars a day with fresh Airpoints updates bringing new perks to the programme.
With new ways to earn and innovative opportunities to spend recently introduced, Airpoints’ 4.7 million
members are enjoying an even more rewarding experience as the largest loyalty programme in Aotearoa
introduced new partners and offerings this year.
Air New Zealand General Manager Loyalty Kate O'Brien says since launching its
new revamped online
Airpoints experience i n August, the airline has been on an ambitious ascent to improve the offering.
“Over the past few months, we’ve rolled out updates to bring even more perks to our members. With
new partnerships like Everyday Rewards, enhanced earning potential in the Airpoints Store, and platform
upgrades, we’re ensuring members have more opportunities to rack up Airpoints Dollars at every turn.
“We’re also working on new ways to bring even more benefits to Airpoints members, with a new tier to
reward our most frequent fliers on the flight path for the future.”
With Airpoints benefits reaching new heights, loyal Air New Zealand customers can earn and burn their
rewards more ways than ever. These are just some of the recent updates to the Airpoints offering.
Airpoints Store’s biggest Black Friday sale

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It’s not just flights members can spend Airpoints Dollars on. The Airpoints Store has more than 10,000
products available for purchase – from trampolines to technology and travel experiences – the Airpoints
Store has it all. From today until Monday, the Airpoints Store will have its biggest ever sale for Black
Friday, with more than 13,000 products on sale with the majority at 10-40% off. The store can now also
be accessed via the Air NZ app.
Some of the top deals include the Smeg Espresso Coffee Machine at 65% off, now $339.15, Sony WF-
1000XM5 Wireless Earbuds at 30% off, now $328, and Medium Vegepods at 30% off, now $398.
Get friends and whānau flying with Shairpoints
This month, Air New Zealand has put Shairpoints front and centre with a new campaign
highlighting
the unique feature. Shairpoints now allows members to pool their Airpoints Dollars with up to ten friends
and whānau, making it easier to achieve those dream travel goals together. The expansion to allow even
more members to pool points aims to bring those dream adventures within reach for travellers.
Earn more with Everyday Rewards
Starting 2 December, members of Air New Zealand's Airpoints programme can convert their
Everyday
Rewards points into Airpoints Dollars, simplifying the journey towards their next getaway. With a
conversion rate of 2,000 Everyday Rewards points equating to 15 Airpoints Dollars, this new partnership
unlocks faster and more rewarding travel possibilities.
Earn while you shop
Members can now earn Airpoints Dollars when they purchase products on the Airpoints Store. This new
feature ensures that every shopping experience contributes towards earning Airpoints Dollars, providing
even more opportunities to accumulate rewards. Members will earn 1 Airpoints Dollar for every $100
cash spent in the Airpoints Store, which can go towards their next holiday or purchase.
“These updates to the Airpoints programme are all about enhancing the value and experience for our
loyal members," says O'Brien. "We are always looking for new ways to make travel more accessible and
rewarding and look forward to updating customers on what’s to come in 2025."
For more information, visit the Air New Zealand Airpoints website: www.airnewzealand.co.nz/airpoints