Greg Foran on Air NZ's difficult year ahead

Greg Foran on Air NZ's difficult year ahead
Domestic airfares will rise over the next year, says Greg Foran, pictured with Air NZ chair Therese Walsh. (Image: BusinessDesk)
Pattrick Smellie
Air New Zealand chief executive Greg Foran has convinced his board to wear some $50 million a year in costs caused by a cluster of headwinds facing the airline rather than anger customers and demoralise staff.That is despite the fact the airline’s domestic business, where it has 86% market share, appears to be at risk of making a loss on its operations in the second half of the current financial year, ending June 30.Foran said domestic fares will rise over the next six months to improve margin, although that will further weaken demand, wh...

More Markets

NZ sharemarket rises as Infratil, Spark drive gains
Markets Market close

NZ sharemarket rises as Infratil, Spark drive gains

New Zealand shares ended firmer after Infratil and Spark posted gains.

Jamie Gray 27 Jun 2025
Rua Gold secures funding to step up hunt for NZ gold
Markets

Rua Gold secures funding to step up hunt for NZ gold

The funds will be used to carry out exploration over the next 12 to 18 months.

John Anthony 27 Jun 2025
Former CBL CFO must pay $1.2m for disclosure breaches
Markets

Former CBL CFO must pay $1.2m for disclosure breaches

The case was a first for New Zealand courts, FMA says.

John Anthony 27 Jun 2025
Investore buys New Lynn Bunnings site for $43 million
Property

Investore buys New Lynn Bunnings site for $43 million

Investore Property has struck a deal to acquire the Bunnings complex in New Lynn, Auckland.The company told the market on Friday it had entered an unconditional agreement to acquire the property for $43 million.The 2.2-hectare site at 2–12 Titirangi Rd features an 11,000sq m buil...

Staff reporters 27 Jun 2025