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Air New Zealand (AIR) investor relations material

Air New Zealand AGM 2025 summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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AGM 2025 summary25 Sep, 2025

Opening remarks and agenda

  • Welcomed shareholders in Auckland and online, emphasizing accessibility and hybrid participation.

  • Introduced Board members, executive team, and external advisors present.

  • Meeting opened with addresses from the Chair and CEO, followed by a review of 2025 performance, resolutions and voting, and general questions.

  • Outlined meeting agenda: performance review, CEO address, Q&A, voting on director elections, and general business.

Financial performance review

  • Achieved earnings before tax of $189M for FY2025, including $35M from unused travel credit breakage, despite engine constraints and softer domestic demand.

  • Net profit after tax was $126M for FY2025.

  • Aircraft availability challenges had a ~$165M adverse impact on earnings, net of $129M compensation; total disruption costs estimated at $280–320M.

  • Nonfuel operating costs rose 6% ($235M) due to structural increases in airport charges, levies, and engineering.

  • Passenger numbers were 16 million, down 3% from 2024; cargo revenue rose 6% to $487M.

  • Maintained robust liquidity of $1.7B, above the $1.2–$1.5B target range, and net debt to EBITDA of 1.1x, with Moody’s reaffirming investment grade rating.

  • Outlook for 1H FY2026: earnings before tax expected to be similar or less than 2H FY2025 ($34M) due to ongoing engine and demand challenges.

Board and executive committee updates

  • CEO Greg Foran recognized for leadership through pandemic and operational crises; will support transition to incoming CEO Nikhil Ravishankar.

  • Nikhil Ravishankar highlighted for digital transformation, loyalty program, and internal promotion to CEO.

  • Dame Therese Walsh seeking reelection for final term as Chair, with Board succession planning underway.

  • Neil Barclay, former Meridian Energy CEO, nominated and elected as new independent director.

  • Board includes Dame Therese Walsh (Chair), Neal Barclay, Claudia Batten, Dean Bracewell, Alison Gerry, Laurissa Cooney, and Larry De Shon.

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Frequently asked questions

Air New Zealand Limited is the national airline of New Zealand, providing passenger and cargo air transport services both domestically and internationally. The airline operates flights across Oceania, Asia, the Americas, and Europe, with a focus on routes connecting New Zealand to major global destinations. In addition to passenger services, Air New Zealand offers cargo transportation, loyalty programs, and travel-related services to enhance the travel experience. The company emphasizes a commitment to customer service, sustainability, and New Zealand tourism. Air New Zealand Limited is headquartered in Auckland, New Zealand, and its shares are listed on the New Zealand Stock Exchange.

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