Ann: MONTHLY: AIR: Air New Zealand Investor Updat

• Release Date: 21/03/12 18:42
• Summary: MONTHLY: AIR: Air New Zealand Investor Update (February Operating Stats)
• Price Sensitive: No
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AIR
21/03/2012 16:42
MONTHLY

REL: 1642 HRS Air New Zealand Limited (NS)

MONTHLY: AIR: Air New Zealand Investor Update (February Operating Stats)

MONTHLY INVESTOR UPDATE: 21 MARCH 2012

CONTENTS
- February market conditions
- Company news
- Operating statistics table (see attachment)

FEBRUARY MARKET CONDITIONS

Air New Zealand carried 1,036,000 passengers during the month of February,
2.8% less than last year. Revenue passenger kilometres (RPKs) decreased 4.5%
on 2.2% less capacity (ASKs). The Group load factor decreased 2.0 percentage
points.

Short Haul passenger numbers were down 2.0% on February last year. Demand
(RPKs) decreased in the Domestic market by 2.4% on last year and the load
factor decreased 0.3 percentage points to 83.0% on decreased capacity (ASKs)
of 2.0%. Tasman / Pacific demand (RPKs) was 0.5% lower after capacity (ASKs)
increased by 0.4%. The Tasman / Pacific load factor decreased by 0.7
percentage points compared to February 2011 to 81.3%.

Long Haul passenger numbers were 7.9% lower than February last year on 3.4%
less capacity (ASKs). On North America / UK routes demand (RPKs) decreased by
7.6% on last February and capacity (ASKs) was decreased by 5.0%. Load factor
decreased by 2.3 percentage points on last year to 81.6%. Demand (RPKs)
decreased by 5.7% on Asia / Japan / UK routes, capacity (ASKs) decreased by
1.0% and load factor decreased by 4.0 percentage points to 79.7%. The impact
of the Christchurch and Japan earthquakes in 2011 continues to significantly
affect passenger numbers on the Japan routes. Excluding Japan, capacity
(ASKs) increased 11.7% on Asia/UK routes as a result of additional services
to Hong Kong and Shanghai. Demand (RPKs) increased by 6.5% and load factor
decreased by 4.1 percentage points to 81.4% compared to February last year.

Group-wide yields for the financial year to date were up 3.8% on the same
period last year. Compared to last February year to date Short Haul yields
were up 1.6%. Long Haul yields were up by 3.8%. Removing the impact of
foreign exchange, Group-wide yields were up 5.4%.

In February, 80.70% of Air New Zealand's Domestic flights departed within 10
minutes of scheduled departure time.

COMPANY NEWS

Air New Zealand's alliance with Virgin Australia goes direct to Sunshine
Coast

Kiwis will be able to fly to the heart of Queensland's Sunshine Coast this
winter with Air New Zealand launching the first international service into
Sunshine Coast Airport as part of its trans Tasman alliance with Virgin
Australia.

The new direct service between Auckland and the Sunshine Coast will operate
twice a week on Tuesdays and Sundays on a seasonal basis between 1 July and
18 September. It will utilise an A320 aircraft offering a 'Seats to Suit'
fare structure and seamless connections to the domestic and international
networks of Air New Zealand and Virgin Australia.

Air New Zealand increases capacity to North America

Air New Zealand is increasing its capacity into the North American
destinations of Los Angeles, San Francisco and Vancouver.

The airline will move to 14 return services per week on the Auckland - Los
Angeles route from mid June, including three flights on Saturdays and a
double daily service most other days of the week.

The Auckland - San Francisco service will operate five times per week from
April and moving to a daily service during peak demand times. The Auckland -
Vancouver route will move to five services per week over the peak December -
February period.

The additional flights are on sale now and Air New Zealand is able to add
further capacity into North America if there is sufficient demand.

Australians prefer Air New Zealand - Roy Morgan Australia Customer
Satisfaction Awards

Roy Morgan surveyed nearly 4,000 people who'd used an international airline
in the previous 12 months and Air Zealand was rated the Best International
Airline for customer satisfaction in 2011, winning more months than any other
airline throughout the year. Air New Zealand's average satisfaction rating
for the year was 89%.

Mount Cook Airline's ATR fleet inspected

Air New Zealand's regional subsidiary Mount Cook Airline is inspecting its
fleet of 11 ATR aircraft after hairline cracks were found in the area near a
window of the cockpit in one aircraft during routine maintenance in
Christchurch over the weekend.

Four ATR aircraft are now back in service with the remainder to re-enter
during the rest of the week. Mount Cook is now operating the equivalent of
its normal daily seat capacity with additional flying from jets and Q300
aircraft, resulting in all passengers getting to their destinations.
End CA:00220991 For:AIR    Type:MONTHLY    Time:2012-03-21 16:42:21