20 February 2024
Gus M
[FYI request #25216 email]
Dear Gus
Thank you for your Official Information Act (OIA) request, received on 18 December
2023. You requested the fol owing:
Al correspondence between Air New Zealand and their senior management
directly with yourself directly and with your office from 27 November 2023
Information being released
Please find enclosed the fol owing documents:
Item Date
Document Description
Decision
1.
11 December
Message
Release in ful
2023
2.
13 December
FW_Air NZ market release this
Release in ful
2023
morning updating on 1H FY24
(except for contact details)
guidance
3.
13 December
Air NZ updates progress 1H
Release in ful
2023
earnings FY24
(except for contact details)
I have decided to release the documents listed above, subject to information being
withheld under section 9(2)(a) of the OIA, to protect the privacy of natural persons.
Some information has been redacted because it is not covered by the scope of your
request. This is because the document includes matters outside your specific request.
This reply addresses the information you requested. You have the right to ask the
Ombudsman to investigate and review my decision.
Yours sincerely
Hon Nicola Wil is
Minister of Finance
Table of Contents
1.
Message
1
2.
Email: FW: Air NZ market release this morning updating on 1H FY24 guidance
2
3.
Air NZ updates progress on 1H earnings FY24
3
From: Leila Peters <[email address]>
Sent: Wednesday, 13 December 2023 8:06 AM
To: Daniel Madley [TSY] <[email address]>; Juston Anderson [TSY] <[email address]>; Amanda Wilson
<[email address]>
Cc: Kim Cootes <[email address]>
Subject: Air NZ market release this morning updating on 1H FY24 guidance
Good morning Juston, Daniel and Amanda,
Please find attached a market release which wil go out to the NZX this morning at 8:30 providing an update on our progress in 1H earnings guidance. It should
be noted that we are cal ing out increased signs of demand softness in the release and expectations for an increasingly chal enging second half.
Please reach out with any questions.
Best,
Leila
Leila Peters
GM Corporate Finance | Corporate Services
FB. facebook.com/airnewzealand
LI. linkedin.com/company/air-new-zealand
185 Fanshawe Street, Auckland
1010, New Zealand
E. [email address]
TW. twitter.com/FlyAirNZ
W. www.airnewzealand.co.nz
YT. youtube.com/airnewzealand
Good planets are hard to find - please think of the environment before you print this email.
____________________________________________________________________
CAUTION - This message may contain privileged and confidential
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If you are not the intended recipient of this message you are hereby
notified that any use, dissemination, distribution or reproduction
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_____________________________________________________________________
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at http://www.airnewzealand.com
_____________________________________________________________________
Stock exchange listings: New Zealand (NZX: AIR) / Australia (ASX: AIZ) / ADR (OTC: ANZLY)
MARKET ANNOUNCEMENT
13 December 2023
Air New Zealand updates progress on first half FY24 earnings guidance
Fol owing a further two months of operating performance since guidance was given, Air New
Zealand now expects first half earnings for FY24 to be around the bottom end of its $180 million to
$230 mil ion range initial y provided on 12 October.
Early signs of softness in domestic travel, particularly corporate and government travel, which were
noted in the 12 October update have continued, with late booking activity remaining weaker
compared to the prior year. More recently, the airline has noted softer leisure demand in both the
Domestic and Trans-Tasman markets.
Demand for travel to North America continues to be solid, albeit the airline is observing additional
pricing pressure due to increased competition from US carriers. Asia and Pacific Islands demand
remains unchanged. Air New Zealand wil continue to monitor booking patterns closely.
As previously announced, $45 mil ion of Covid related credits that are highly unlikely to be
redeemed by the extended expiry date are included within the above guidance range.
The airline continues to address the ongoing impacts of the global Pratt & Whitney engine issues
on the business. In addition, economic and inflation risks remain and as a result, Air New Zealand
is not providing full year guidance at this time. The airline cautions against extrapolating first half
guidance and currently expects the second half of the financial year to be increasingly chal enging.
Ends
This announcement has been authorised for release to NZX and ASX by Jennifer Page, General Counsel
& Company Secretary ([email address]).
For investor relations queries, please contact:
Kim Cootes
Head of Investor Relations
Email: [email address]
Phone:
Air New Zealand postal address: Private Bag 92007, Auckland, 1142, New Zealand
Investor Relations email: [email address]
Investor website: www.airnewzealand.co.nz/investor
