Air New Zealand reports solid result, announces $100m buyback

Air New Zealand (NZX:AIR) reported earnings before taxation of $155 million and a net profit after taxation of $106 million for the first half of the 2025 financial year. To return capital to shareholders, the company announced a share buy-back program of up to $100 million, commencing March 7, 2025. The buy-back includes an on-market component through the NZX and ASX and an off-market component where Air New Zealand will acquire a corresponding number of shares held by the Crown, in order to maintain the Crown's shareholding. The buy-back is capped at a maximum of 343,720,838 ordinary shares. The on-market buy-back will be conducted in accordance with the Companies Act, such that the maximum number of shares acquired will not exceed 5% of the Company's shares on issue 12 months prior to commencement. The off-market buy-back is capped at 15% of the Company’s shares on issue 12 months prior. Air New Zealand also declared an unimputed interim ordinary dividend of 1.25 cents per share, payable on March 19, 2025.