Air New Zealand Ltd (ANZLY) reported a loss for the first half of fiscal 2026, reflecting ongoing fleet constraints linked to global engine maintenance issues, persistently high aviation system inflation, a weaker New Zealand dollar and a slower-than-expected recovery in domestic demand.
Loss before taxation was A$59 million, compared with earnings before taxation of A$144 million in the prior corresponding period.
Operating earnings declined to A$327 million from A$517 million last year.
Net loss attributable to shareholders was A$40 million, or 1.2 cents per basic share, compared with a net profit of A$98 million, or 2.9 cents per basic share, a year earlier.
Operating revenue, however, increased 1.2% to $3.444 billion from $3.403 billion.
Passenger revenue rose 3.6% to A$3.010 billion, supported by additional capacity on Tasman and Pacific routes and a higher mix of premium seating, while cargo revenue fell 7% to A$239 million due to lower yields and capacity constraints.
Revenue per Available Seat Kilometre (RASK) increased 3.3%. Excluding foreign exchange and travel credit breakage, RASK increased 2.1%.
Load factor was 83.6%, an increase of 0.3 percentage points on theprior period.
The Board did not declare an interim dividend, compared with 1.25 cents per share paid in the prior-year period.
Looking ahead, the airline expects second-half earnings to be broadly in line with, or modestly below, the first half.
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