Air New Zealand announces new 2030 Emissions Guidance

Stock exchange listings: New Zealand (NZX: AIR) / Australia (ASX: AIZ) / ADR (OTC: ANZLY)


MARKET ANNOUNCEMENT

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


1 May 2025

Air New Zealand announces new 2030 Emissions Guidance in move
towards greater transparency

Air New Zealand has published its first 2030 Emissions Guidance today, and says it
expects to reduce net “well-to-wake” greenhouse gas emissions from jet fuel by 20 to
25 per cent by 2030, from a 2019 baseline. This new approach replaces the airline’s
2030 Science Based Target which it withdrew from in 2024.
The new 2030 Emissions Guidance aims to provide a regular and transparent
assessment of Air New Zealand’s progress towards its 2050 net-zero carbon emissions
target. The Emissions Guidance will be updated annually in August in the airline’s
Climate Statement.
Each update will reflect the airline’s expected net emissions by 2030 based on detailed
modelling of its decarbonisation progress, external market conditions, and global and
domestic policy developments.
Chief Sustainability and Corporate Affairs Officer Kiri Hannifin, says Air New Zealand is
acutely aware of aviation’s impact on the climate and nature, and is committed to high
levels of transparency in a rapidly evolving environment.
“Air New Zealand remains committed to net zero carbon emissions by 2050 and we are
taking practical steps today towards achieving that ambition. Having a comprehensive
and annually updated outlook of our emissions trajectory to 2030, and a clear
understanding of how we can get there, is a critical stepping stone.
“Rather than setting an emissions target that remains static, regular emissions
guidance will give our investors and customers an up-to-date and clear view of our
expected emissions trajectory, including the impact from external risks and
opportunities. The reality of decarbonising an industry like aviation is there is
uncertainty and are many factors we have limited control over, such as the availability
of sustainable aviation fuel (SAF) at reasonable prices. Many of our assumptions are
evolving rapidly.
“We hope there may be opportunities to move faster as new technologies and the SAF
industry grows, so our 2030 emissions guidance could be updated to reflect any upside
as well,” says Kiri Hannifin.

Stock exchange listings: New Zealand (NZX: AIR) / Australia (ASX: AIZ) / ADR (OTC: ANZLY)


MARKET ANNOUNCEMENT

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


In developing the 2030 Emissions Guidance, Air New Zealand has undertaken a
thorough analysis of the airline’s specific circumstances, external environment, and key
decarbonisation levers:
• Sustainable aviation fuel (SAF): increasing use as global mandates, supply and
affordability scale.
• Fleet and network optimisation: implementing the airline’s fleet and network
plan, including continued fleet renewal to replace older aircraft with more fuel-
efficient aircraft.
• Operational efficiency improvements: improving fuel efficiency through
technology and best practice.
• Carbon credits: using carbon credits to meet international regulatory
requirements (specifically CORSIA, the Carbon Offsetting and Reduction
Scheme for International Aviation), and to a lesser extent using high integrity
carbon removals.
• There are no anticipated decarbonisation impacts from Next Generation
Aircraft in the period to 2030.
The 2030 Emissions Guidance is integrated with the airline’s long-term fleet and
network plan through to 2030 and will be updated in August each year as part of its
Climate Statement.

Notes for editors:
• Further detail on Air New Zealand’s 2030 Annual Emissions Guidance as of 1
May 2025 is set out in the attached 2030 Emissions Guidance: 1 May 2025
Update.
• Well-to-wake emissions are the total emissions from jet fuel, including fuel
production, distribution and combustion in flight.
• Air New Zealand removed its 2030 carbon target in July 2024 and withdrew from
the Science-Based Targets Initiative (SBTi) due to uncertainty around a number
of factors needed to meet the target.
• Air New Zealand’s science-based target aimed for a 28.9% reduction in
emissions intensity by 2030 vs. a 2019 baseline. Intensity targets seek to reduce

Stock exchange listings: New Zealand (NZX: AIR) / Australia (ASX: AIZ) / ADR (OTC: ANZLY)


MARKET ANNOUNCEMENT

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


emissions per unit of flying activity. The 2030 Emissions Guidance focuses on a
different metric of net emissions reduction.

Ends.
This announcement is authorised for release on the NZX and ASX by Jennifer Page, General Counsel &
Company Secretary.

For investor relations queries, please contact: For media enquiries, please contact:
Kim Cootes, Head of Investor Relations Air New Zealand Communications
kim.cootes@airnz.co.nz media@airnz.co.nz
+64 272 970 244 +64 21 747 320