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Air New Zealand delivers better than forecast annual results
August 28th 2025
Air New Zealand (ANZ) has posted a smaller than-expected decline in its full-year profit to June 30. Read More » It has reported earnings before tax of NZ$189 million (US$111 million) compared with NZ$222 million a year ago. The result was at the upper end of guidance provided to the market in April. Net profit after taxation was NZ$126 million. The results reflect resilience despite ongoing global engine maintenance challenges, significant cost inflation and a soft domestic market, the flag carrier said. "This is a solid result in a year the airline faced real operational and economic pressure. It speaks to the capability of the team, the robustness of the business and the financial discipline Greg [Foran] has instilled during his time as CEO. While near-term challenges remain, our balance sheet is strong and our strategy is clear," ANZ chair, Dame Therese Walsh, said. Foran said Air New Zealand carefully managed engine-related disruptions throughout the year with up to six narrow-body and five wide-body aircraft out of service at times. While the airline received $129 million in compensation from engine manufacturers, it estimates earnings before taxation of $189 million could have been approximately $165 million higher had the fleet operated as intended. AirNZ noted signs of gradual improvement are emerging. "While we are not through it yet, we are seeing early signs the most acute phase of disruption will be behind us within the year. The path to recovery won’t be linear, but we are approaching it with focus and discipline," Foran said.
