The number of people flying with Air New Zealand fell 9.5% in February, compared with the same month last year.
In response, the airline says it reduced capacity by 9.7%.
The number of passengers travelling on short haul flights with Air New Zealand declined by 8.6%, while those traveling on long haul flights decreased by 14.1%.
Air New Zealand says group-wide yields for the year-to-date were up 8.5% on the comparable period last financial year.
