Air New Zealand issues A$300m notes, buys back shares

Air New Zealand acquired 760,512 ordinary shares through an on-market and off-market buy-back programme. This included 372,592 shares on NZX and ASX, and 387,920 from the Crown. The average acquisition prices were NZD $0.5945 on NZX, AUD $0.5298 on ASX, and NZD $0.5952 from the Crown. These acquisitions represent 0.0232% of the total class of financial products and are scheduled to be settled and cancelled between September 25 and September 26, 2025.

In a related development, Air New Zealand successfully issued A$300 million in 7-year fixed-rate Medium Term Notes under its wholesale Australian Medium Term Note (AMTN) programme. These senior unsecured notes carry a fixed coupon of 5.179% per annum and mature on September 30, 2032. The issuance, which was well-subscribed with a final order book of approximately A$2.3 billion, is expected to receive a Baa1 rating from Moody's.

The proceeds from the bond issuance will be used for general corporate purposes and to refinance existing notes maturing in May 2026. Both the share buy-back and the note issuance were authorized by board resolutions dated February 20, 2025.