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Air New
Zealand's Capital Structure and Major Shareholders are detailed below.
The company's Constitution, located in the Corporate Governance section,
also contains further information on the rights attached to shares.

Capital Structure

Ordinary Shares
There are currently 1,051,682,560 Ordinary Shares on issue.
Kiwi Share
In addition, the Crown retains a one special rights convertible share
(Kiwi Share). Full details of the rights pertaining to these shares
are set out in the Company's Constitution.

Major
Shareholders
| Shareholders |
Ordinary
Shares |
Percentage |
| New Zealand Government |
804,191,058 |
74.57% |
 |
| Other Investors |
247,228,274 |
25.43% |
 |
Total Ordinary Shares on Issue |
1,078,419,332 |
100.0% |
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