News
Air New Zealand reports interim loss, undertakes strategic business review
February 27th 2026
For the six months ended December 31, 2025, Air New Zealand (Air NZ) reported a loss before tax of NZ$59 million ($35.38 million), compared to a profit of NZ$144 million a year ago. Read More » The net loss after taxation was NZ$40 million. “This result reflects the combined impact of ongoing fleet constraints, a slower recovery in domestic demand and rising costs, including persistently high aviation system inflation. Cost pressures have been further exacerbated by a weaker New Zealand dollar,” the airline said in a statement. “Given the ongoing volatility, including continued global engine maintenance impacts and a slower recovery in domestic demand, the Board and I asked Nikhil to undertake a full strategy review when he took up the Chief Executive Officer role in October. As New Zealand’s national airline, we play an important role in supporting New Zealand, particularly in export and tourism. The strategy reset will allow us to be firmly focused on strengthening and growing our airline to deliver long-term growth and prosperity for New Zealand,” Air NZ Chair Dame Therese Walsh said. In its outlook for the second half of the year, Air NZ said that while capacity is expected to increase, as aircraft return to service and new aircraft enter the fleet, the airline cautions that improvements in aircraft availability are unlikely to translate immediately into earnings uplift. This is because widebody capacity cannot be operationalised into the schedule and sold at short notice. Based on current trading conditions and assuming an average jet fuel price of US$85 per barrel for the second half, Air New Zealand expects second-half earnings to be broadly in line with, or modestly below, the first half.
