The number of passengers flying with Air New Zealand declined in January.
Some 980,000 people boarded domestic, short haul and long haul flights last month.
That is 1% lower than the same month in 2011.
Long haul passenger numbers fell 4.3%, while the number of domestic travelers remained unchanged year-on-year at 583,000.
Group-wide yields for the financial year to January, were up 4.1% on the same period last year.
Shares in Air New Zealand fell 3 cents to 86.5 cents on Wednesday.
