Full Year 2024 Air New Zealand Ltd Earnings Call Transcript
Key Points
- Air New Zealand Ltd (ANZFF) transported over 16 million passengers, a 4% increase from the previous year.
- Customer satisfaction levels have returned to pre-COVID levels due to various service improvements.
- The company introduced new digital features like baggage tracing and live chat, enhancing customer experience.
- Air New Zealand Ltd (ANZFF) was awarded New Zealand's most attractive employer, highlighting strong team morale.
- The balance sheet remains strong with a net debt to EBITDA ratio of 0.8 times and liquidity of $1.5 billion.
- Aircraft availability issues with A321neos and Boeing 787 Dreamliners significantly impacted operations and financial performance.
- Earnings before taxation were $222 million, a notable decline from the previous year's strong results.
- The economic slowdown in New Zealand has led to reduced business travel and lower yields on domestic routes.
- Inflationary cost pressures, including increased labour and maintenance costs, have negatively affected profitability.
- The company faces ongoing supply chain and labour constraints, further complicating operational efficiency.
Welcome to Air New Zealand 2024 Annual Results Call. (Operator Instructions) And with that, I will turn the call over to Air New Zealand's Head of Investor Relations, Kim Cootes. Please go ahead.
Thank you and good morning, everyone. Today's call is being recorded and will be accessible for future playback on our Investor Centre website, which you can find at www.airnewzealand.co.nz/investor-centre.
Also on the website, you can find our annual results presentation, the annual report, and media release, as well as other relevant disclosures. This year, our annual report includes our sustainability report and our first climate statement, which has been released as a separate online document. We encourage investors to review these materials as well.
Speaking on the call today will be Chief Executive Officer, Greg Foran and Chief Financial Officer, Richard Thomson. Leila Peters, our GM of Corporate
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