Do we like them?

Do we like Air New Zealand?

New Zealand's flag-carrier airline, flying domestic and international routes from Auckland.

Our score: 5 out of 10. Mixed. A well-run national carrier with old cartel and advertising fines and a dropped 2030 climate target. We'd back it, but only cautiously.

Air New Zealand is the country's flag carrier, based in Auckland. It's listed on the stock exchange, but the NZ Government holds the majority stake. Nikhil Ravishankar took over as CEO on 20 October 2025 from Greg Foran. He joined in 2021 as chief digital officer, and Dame Therese Walsh chairs the board.

The dirty laundry is mostly old. In 2006 the Commerce Commission prosecuted it over misleading airfare ads, and it was fined $600,000. Later it paid $7.5m to the NZ regulator over an air cargo price-fixing cartel. In 2018 an Australian court ordered a further A$15m for the same cartel.

In July 2024 it became the first major airline to scrap its 2030 climate goal. It blamed delayed fuel-efficient planes, a lack of alternative jet fuel and tough policy settings. It also quit the Science Based Targets initiative. It says 2050 net zero still stands, and it has since set 2030 emissions guidance.

Operationally it's had a rough patch. Rolls-Royce and Pratt & Whitney engine problems kept a rolling share of its jets on the ground through 2024 and 2025. That's a supplier problem more than a conduct problem, and it has received compensation from the engine makers.

So why a 5? The big fines are years old, and the airline is a core piece of national infrastructure. But the dropped climate target is a real black mark, and we found little independently reported good conduct to offset it. We're cautious backers.