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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.AGM 2025 summary25 Sep, 2025
Opening remarks and agenda
Welcomed shareholders in Auckland and online, emphasizing accessibility and hybrid participation; outlined the meeting's agenda and voting procedures.
Meeting opened with addresses from the Chair and CEO, followed by a review of 2025 performance, resolutions and voting, and general questions.
Introduced board members, executive team, and external advisors; acknowledged CEO transition from Greg Foran to Nikhil Ravishankar.
Financial performance review
Delivered earnings before tax of NZD 189 million for FY25, including NZD 35 million from unused travel credit breakage, despite engine constraints and subdued domestic demand.
Net profit after tax was NZD 126 million; passenger numbers were 16 million, down 3% from 2024; cargo revenue rose 6% to NZD 487 million.
Received NZD 129 million in engine manufacturer compensation, but actual costs from engine issues estimated at NZD 280–320 million; aircraft availability challenges had a NZD 165 million adverse impact on earnings.
Non-fuel operating costs rose 6% (NZD 235 million) due to structural increases in charges and levies.
Maintained strong liquidity (NZD 1.7 billion), above the NZD 1.2–1.5 billion target range, and low net debt to EBITDA (1.1x); Moody’s reaffirmed investment-grade rating.
Board and executive committee updates
CEO Greg Foran recognized for leadership through crises; Nikhil Ravishankar introduced as incoming CEO, credited for digital and loyalty program advancements.
Neal Barclay welcomed as new director, bringing experience in sustainability and transformation.
Board includes Dame Therese Walsh (Chair), Neal Barclay, Claudia Batten, Dean Bracewell, Alison Gerry, Laurissa Cooney, and Larry De Shon.
Chair Dame Therese Walsh sought re-election for a final term, highlighting governance succession planning.
Engine issue impact on FY26 capacity growth?
How will Nikhil's CDO background shape strategy?
Transformation's role in offsetting cost inflation?
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Next Air New Zealand earnings date
H1 202625 Feb, 2026
Next Air New Zealand earnings date
H1 202625 Feb, 2026
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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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