Air New Zealand Full Year 2025 Earnings: Revenues Beat Expectations, EPS Lags

Air New Zealand (NZSE:AIR) Full Year 2025 Results

Key Financial Results

• Revenue: NZ$6.76b (flat on FY 2024).
• Net income: NZ$126.0m (down 14% from FY 2024).
• Profit margin: 1.9% (down from 2.2% in FY 2024).
• EPS: NZ$0.038 (down from NZ$0.043 in FY 2024).

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AIR Operational Performance

• Available seat kilometres (ASK): 40.50b (down 3.7% from FY 2024).
• Passenger load factor: 83.4% (up from 81.5% in FY 2024).
• Total aircraft: 113 (up by 3 from FY 2024).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Air New Zealand Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) missed analyst estimates by 6.9%.

The primary driver behind last 12 months revenue was the New Zealand segment contributing a total revenue of NZ$4.14b (61% of total revenue). Notably, cost of sales worth NZ$5.10b amounted to 75% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Depreciation & Amortisation (D&A) costs, amounting to NZ$727.0m (47% of total expenses). Explore how AIR's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Global Airlines industry.

Performance of the market in New Zealand.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

You should always think about risks. Case in point, we've spotted 1 warning sign for Air New Zealand you should be aware of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.