Air New Zealand Ltd (AIZ) — Working Capital to Net Assets Ratio
Air New Zealand Ltd (AIZ) has a Working Capital to Net Assets ratio of -117.3% as of December 2025. Working capital of AU$-2.14 Billion (current assets of AU$2.01 Billion minus current liabilities of AU$4.15 Billion) is measured against net assets of AU$1.83 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See financial flexibility index of Air New Zealand Ltd to measure the company's free cash flow as a share of total liabilities.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Air New Zealand Ltd Working Capital to Net Assets (1998–2025)
This chart shows how Air New Zealand Ltd's Working Capital to Net Assets ratio has evolved across 28 annual periods from 1998 to 2025. As of December 2025, the ratio stands at -117.3%, reflecting working capital of AU$-2.14 Billion against net assets of AU$1.83 Billion AUD. See Air New Zealand Ltd defensive liquidity buffer to measure how many days the company can operate on defensive assets alone.
Annual Working Capital to Net Assets for Air New Zealand Ltd (1998–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for Air New Zealand Ltd from 1998 to 2025, covering 28 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For live market cap and the full company profile, see AIZ stock market capitalisation.
| Year | WC/NA Ratio | Working Capital (AUD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | -89.9% | AU$-1.75 Billion | AU$1.95 Billion | AU$2.33 Billion | AU$4.08 Billion | ▼ -32.2 pp |
| 2024 | -57.7% | AU$-1.16 Billion | AU$2.01 Billion | AU$2.44 Billion | AU$3.60 Billion | ▼ -30.4 pp |
| 2023 | -27.3% | AU$-567.00 Million | AU$2.08 Billion | AU$3.27 Billion | AU$3.84 Billion | ▲ +12.9 pp |
| 2022 | -40.2% | AU$-674.00 Million | AU$1.68 Billion | AU$2.50 Billion | AU$3.17 Billion | ▲ +98.9 pp |
| 2021 | -139.1% | AU$-1.53 Billion | AU$1.10 Billion | AU$826.00 Million | AU$2.35 Billion | ▼ -56.1 pp |
| 2020 | -82.9% | AU$-1.09 Billion | AU$1.32 Billion | AU$1.01 Billion | AU$2.10 Billion | ▼ -39.7 pp |
| 2019 | -43.3% | AU$-862.00 Million | AU$1.99 Billion | AU$1.80 Billion | AU$2.67 Billion | ▼ -22.9 pp |
| 2018 | -20.4% | AU$-443.00 Million | AU$2.18 Billion | AU$2.25 Billion | AU$2.70 Billion | ▲ +5.7 pp |
| 2017 | -26.1% | AU$-518.00 Million | AU$1.99 Billion | AU$1.89 Billion | AU$2.40 Billion | ▼ -19.8 pp |
| 2016 | -6.3% | AU$-132.00 Million | AU$2.11 Billion | AU$2.34 Billion | AU$2.47 Billion | ▲ +1.2 pp |
| 2015 | -7.4% | AU$-146.00 Million | AU$1.97 Billion | AU$1.98 Billion | AU$2.13 Billion | ▼ -5.0 pp |
| 2014 | -2.4% | AU$-45.00 Million | AU$1.87 Billion | AU$1.83 Billion | AU$1.87 Billion | ▼ -9.6 pp |
| 2013 | 7.2% | AU$129.00 Million | AU$1.80 Billion | AU$1.84 Billion | AU$1.71 Billion | ▲ +6.2 pp |
| 2012 | 1.0% | AU$17.00 Million | AU$1.69 Billion | AU$1.70 Billion | AU$1.68 Billion | ▲ +23.7 pp |
| 2011 | -22.7% | AU$-341.00 Million | AU$1.50 Billion | AU$1.48 Billion | AU$1.82 Billion | ▼ -27.8 pp |
| 2010 | 5.2% | AU$81.00 Million | AU$1.57 Billion | AU$1.69 Billion | AU$1.61 Billion | ▼ -27.0 pp |
| 2009 | 32.1% | AU$516.00 Million | AU$1.60 Billion | AU$2.27 Billion | AU$1.76 Billion | ▲ +5.5 pp |
| 2008 | 26.6% | AU$420.00 Million | AU$1.58 Billion | AU$2.13 Billion | AU$1.71 Billion | ▲ +1.5 pp |
| 2007 | 25.2% | AU$440.00 Million | AU$1.75 Billion | AU$1.81 Billion | AU$1.37 Billion | ▲ +16.4 pp |
| 2006 | 8.8% | AU$140.00 Million | AU$1.59 Billion | AU$1.72 Billion | AU$1.58 Billion | ▼ -18.0 pp |
| 2005 | 26.7% | AU$412.00 Million | AU$1.54 Billion | AU$1.63 Billion | AU$1.22 Billion | ▼ -12.8 pp |
| 2004 | 39.5% | AU$479.71 Million | AU$1.21 Billion | AU$1.60 Billion | AU$1.12 Billion | ▲ +16.8 pp |
| 2003 | 22.7% | AU$234.19 Million | AU$1.03 Billion | AU$1.37 Billion | AU$1.14 Billion | ▲ +1.3 pp |
| 2002 | 21.4% | AU$188.40 Million | AU$881.79 Million | AU$1.44 Billion | AU$1.25 Billion | ▲ +185.0 pp |
| 2001 | -163.6% | AU$-847.73 Million | AU$518.04 Million | AU$2.79 Billion | AU$3.64 Billion | ▼ -92.2 pp |
| 2000 | -71.4% | AU$-1.14 Billion | AU$1.59 Billion | AU$2.46 Billion | AU$3.60 Billion | ▼ -82.9 pp |
| 1999 | 11.4% | AU$243.40 Million | AU$2.13 Billion | AU$1.20 Billion | AU$953.84 Million | ▲ +7.7 pp |
| 1998 | 3.8% | AU$74.62 Million | AU$1.99 Billion | AU$981.13 Million | AU$906.51 Million | — |