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Showing 1-8 of 8 published briefings.

Air New Zealand (AIR)HY26Released 26 February 2026

PBT collapsed from +$155m to -$59m on flat revenue

Engine maintenance delays and cost inflation crushed Air NZ's margins while capex surge pushed free cash flow to a -$480m outflow, ending net cash.

Published 21 April 2026

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Air New Zealand (AIR)FY25Released 28 August 2025

Air NZ FY25 NPAT fell 13.7% as second-half profit collapsed to NZ$20m

Flat revenue masked a sharply weaker H2, but operating cash flow rose 16% and the group ended the year in a small net cash position.

Published 22 April 2026

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Air New Zealand (AIR)HY25Released 20 February 2025

PBT fell 16% on a 2% revenue decline as cost pressure outpaced yield

Air New Zealand's H1 result landed at the top of its guidance range, but the earnings-to-revenue gap signals margin compression that will define...

Published 22 April 2026

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Air New Zealand (AIR)FY24Released 29 August 2024

Air NZ FY24 NPAT fell 64.6% and 2H NPAT collapsed to just $17m

Revenue grew 6.7% to $6.75b but EBITDA, cash conversion and the dividend all weakened, and prior HY24 guidance of $200–240m NPAT proved optimistic.

Published 22 April 2026

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Air New Zealand (AIR)HY24Released 22 February 2024

PBT fell 38% on an 11% revenue rise as pre-lease free cash flow turned negative

Air New Zealand grew the top line but margins and cash conversion both deteriorated sharply, with operating cash inflow down 58% and capex...

Published 22 April 2026

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Air New Zealand (AIR)FY23Released 24 August 2023

Air NZ swings to NZ$412m NPAT as revenue more than doubles and net cash...

A cyclical demand snap-back has restored profitability and the balance sheet, but the payout is a one-off special and durable earnings power is...

Published 22 April 2026

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Air New Zealand (AIR)HY23Released 23 February 2023

Air New Zealand swings to $299m PBT with $2.16b cash pile on demand rebound

HY23 revenue nearly tripled to $3.1b and the group moved from $1.6b net debt to a $419m net cash position, but the comparison is against a...

Published 22 April 2026

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Air New Zealand (AIR)FY22Released 25 August 2022

PBT loss widens 97% to $810m even as recapitalisation lifts cash to $1.8bn

Revenue rose 8.6% on cargo strength but cost pressure deepened the operating loss, while an equity raise transformed the balance sheet.

Published 21 April 2026

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