Air New Zealand is on its way to recovering from the effects of the COVID-19 pandemic, but CEO Greg Foran says it’s important to keep the things in perspective.
has counted every one of the 880 days since the airline first responded to COVID-19, ceasing flights to Shanghai after New Zealand restricted travel to and from China on February 2, 2020.The former retail heavyweight, who had long stints at Woolworths and Walmart, decided to make the jump to the world of aviation in late 2019, and was met with the toughest entry exam possible when he started at the dual-listed New Zealand carrier early the next year.
The company – which is expecting to fall to a loss of $NZ750 million in the 2022 financial year – has worked to recapitalise itself with a. It raised another $NZ1 million from the New Zealand government, which owned 51 per cent of the airline at last notice. With the balance sheet in “good shape”, Mr Foran says Air New Zealand has enough headway to focus on its post-COVID-19 strategy, which includes an “optimisation” of its international routes.“Australia is strong,” Mr Foran says. “We have been at about 45 per cent of pre-COVID-19 capacity [to Australia] until this week. We are now ramping that up to 75 per cent of pre-COVID-19, and we are pretty much sold out.
“Fortunately, that [the price of fuel] has come down in the last 24 hours, but I’m not smart enough to predict what it looks like in another 24 hours time, let alone 24 months,” Mr Foran said.
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