May 2025 Monthly traffic update
Key points:
• In May 2025, there was a total of 765k international passenger movements in the month, a 4% increase compared to the same month in 2024. Excluding transits, international passenger movements for the month of May 2025 increased by 6%. International seat capacity was flat on the same month last year resulting in average load factors of 80%, a 3.3 percentage point improvement on the year prior;
• Reviewing the five largest nationalities for non-transit international passengers showed that New Zealanders made up 52% of international passenger movements in the month, an increase of 6% on prior year and 3% ahead of May 2019. Australian nationals increased by 5% on the prior year and account for 10% of all international passengers. Chinese nationals increased by 7%, USA nationals increased by 13% with Indian nationals decreasing by 2%, but 31% ahead of May 2019;
• Load factors across the short-haul international network reached 82%, 2.1 percentage points higher than the year prior. Long-haul international load factors improved by 4.8 percentage points to 77%. Departing long-haul international load factors were elevated at 84%. With the transition into the winter season, the seasonal shift drove higher outbound demand as travellers seek warmer destinations abroad;
• Domestic passenger movements increased 1% in the month of May 2025 when compared to the same month in the prior year, with seat capacity increasing 2%, resulting in domestic load factors declining by 0.9 percentage points to 81%. Domestic trunk passengers and seat capacity increased by 3% and 4% year on year respectively resulting in load factors of 82%; and
• Queenstown Airport international passenger numbers in May 2025 increased 15% on the year prior and domestic passengers decreased 1% on the same month last year.
"We’ve continued to lag relative to other markets," analyst says.
Executive chair Keith Jackson says the firm is not concerned.
New Zealand shares ended firmer after Infratil and Spark posted gains.
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