Credit: Riik@mctr
Air New Zealand says it expects roughly NZ$20 million (or ~$12 million USD) in leftover travel credits to go unused over the next six months, effectively boosting its earnings at a time when the airline is also projecting lower overall profit. According to official statements filed with the NZX, the "credit breakage" arises from prepaid flights and vouchers issued during COVID-19 that customers are unlikely to redeem before they expire.
Money on the table: The airline’s situation underscores a broader pattern of consumers simply leaving money on the table. According to reporting from CNBC, the U.S. Internal Revenue Service estimates more than $1 billion in unclaimed 2021 tax refunds remain outstanding, impacting around 1.1 million Americans. With the window for claiming these refunds recently closed on April 15, 2025, many filers lost hundreds—even thousands—of dollars.
Post-COVID travel trends: In Air New Zealand’s case, the pandemic triggered mass cancellations and widespread reliance on credits. Air New Zealand counts credits as revenue once it’s sure they won’t be used. Consumer advocates warn travelers to quickly check and use any remaining credits before the next tranche of credit deadlines expires.