Air New Zealand (AIR.NZ): First Take: Air New Zealand announced priorities of 2026 Strategy Reset

Research evidence excerpt

Air New Zealand (AIR.NZ): First Take: Air New Zealand announced priorities of 2026 Strategy Reset

Equity Research

30 June 2026 | 4:05PM AEST

Air New Zealand (AIR.NZ): First Take: Air New Zealand announced

priorities of 2026 Strategy Reset

Air New Zealand announced the company’s strategy reset now being implemented Niraj Shah

+61(2)9320-1369 | niraj.shah@gs.com

across the airline (post review from Oct25) focusing on returning the airline to Goldman Sachs Australia Pty Ltd

profitability. Within the announcement, the company also reiterated its FY26 loss Sophie Yu

before tax of NZ$340-NZ$390m (GSe: -NZ$357m, VA Cons: -NZ$364m). AIR +61(3)9679-1076Goldman Sachs Australia| sophie.x.yu@gs.comPty Ltd

highlighted three strategic priorities: Alex Nosatti

+61(2)9321-8342 | alex.nosatti@gs.com

Goldman Sachs Australia Pty Ltd

n Customer First: The company’s identified priority customer segments include

premium leisure long-haul inbound, high-value VFR Leisure short-haul outbound

and Business and SME domestic customers. Since the beginning of the strategy

reset in Oct25, the company has been focused on delivering leading reliability in

its priority segments, with initiatives including introduction of Domestic

clean-sheet schedule, refreshing in-flight product offering, step changing

passenger self-service, building precision marketing platform etc which has lifted

on time performance by +2.9%pt YTD. The company’s also retrofitted 9 out of

14 787-9s with the remainder to be completed by Nov26. Looking forward, the

company continues to target top 5 on time performance in the world for the

airline, driven by implementation of international clean-sheet schedule, fine

tuning of premium service flow and product offering, further improvement in

disruption management etc.