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

Fri, 23 Feb 2024

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...

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