HY26 · Released 26 February 2026
PBT swung $214m to a $59m loss on flat revenue
Engine maintenance delays and a weaker NZD erased HY25's $155m PBT profit despite a 1.2% revenue gain, and the interim dividend was cut to nil.
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AIR · NZX
Air New Zealand
AirlinesCovered: HY261 published briefing
Air New Zealand is an NZX-listed airlines company covered by Annolyse across HY26. This page brings together the latest briefing, the current metrics snapshot, and the published history to date in one place.
Table of Contents
Snapshot
Latest metrics
HY26, released 26 February 2026
| Metric | Value |
|---|---|
| Revenue | $3444.0m |
| EBITDA | $347.0m |
| NPAT | -$40.0m |
| Operating cash flow | $213.0m |
| OCF / EBITDA % | 61.4% |
| Net debt | $450.0m |
| Net debt / EBITDA | 1.30x |
| ROE % | -2.2% |
| PBT | -$59.0m |
| FCF pre-lease | -$480.0m |
Longitudinal view
Performance over time
Current-period values from each published briefing, with the most recent reporting period shown first.
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| Metric | HY266 MONTHS26 February 2026 |
|---|---|
| Revenue | $3444.0m |
| Revenue growth % | 1.2% |
| EBITDA | $347.0m |
| EBITDA margin % | 10.1% |
| PBT | -$59.0m |
| NPAT | -$40.0m |
| Operating cash flow | $213.0m |
| OCF / EBITDA % | 61.4% |
| FCF pre-lease | -$480.0m |
| ROE % | -2.2% |
| Net debt | $450.0m |
| Net debt / EBITDA | 1.30x |
| Inventory days | 18 |
| Total assets | $9135.0m |
Source: annolyse.ai/companies/air
Accountability
What changed versus the prior briefing
Read the prior briefing's expectations and unresolved questions alongside the subsequent result, without forcing long-form editorial text into narrow cards.
Expectations tracker
Once a second briefing exists for this company, this section will compare the previous briefing's expectations and unresolved issues with what actually happened in the next result.
Archive
Briefing archive
Every published Annolyse briefing for this company appears here in reverse chronological order.
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