Overview

• The airline reported NZ$189 million earnings before tax and NZ$126 million net profit, landing at the top of April guidance.
• Network capacity fell about 4% with as many as six narrowbodies and five widebodies parked at times due to engine shortages.
• Engine makers paid NZ$129 million in compensation, and management estimates pretax earnings would have been roughly NZ$165 million higher with full fleet availability.
• Non-fuel operating costs rose about NZ$235 million as charges, labour and materials increased, while the board declared a 1.25 cent final dividend and returned NZ$38 million via a buyback.
• Guidance flags first-half FY26 pretax earnings similar to or below FY25 H2’s NZ$34 million, and CEO Greg Foran will hand the role to chief digital officer Nikhil Ravishankar on 20 October.