'Survive, Revive, Thrive': Air New Zealand's 800-day runway to healthy profits

Air New Zealand will be nimbler, fly fewer passengers and routes, and may cut more jobs as it targets a return to 'healthy profits' by 2022, its chief executive said as he navigates the airline through the coronavirus crisis.

FILE PHOTO: An Air New Zealand Boeing 787-9 Dreamliner plane taxis at O'Hare International Airport in Chicago, Illinois, U.S., Nov. 30, 2018. REUTERS/Kamil Krzaczynski

Greg Foran laid out an 800-day plan to customers and staff under which the national flag carrier will look at how to further cut labour costs, including leave without pay, reduced hours or possibly laying off more people. The International Air Transport Association said last week that global airlines cut domestic fares by an average 23% in May, and previously warned traffic would not return to pre-crisis levels until at least 2023.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Reuters /  🏆 2. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Air New Zealand targets 'healthy profits' by 2022Air New Zealand on Monday began the second phase of a coronavirus-enforced cost-cutting plan that it said will save around NZ$150 million ($97.53 million) and help it return to 'healthy profits' by August 2022.
Read more »

ServiceNow BrandVoice: New Skills For A New WorldIn the wake of COVID-19, companies are pushing employees to acquire digital work skills. Here are the top four skillsets employers are looking for.
Read more »

Malaysia reports 19 new coronavirus cases; no new deathsMalaysian health officials reported 19 new coronavirus cases on Sunday, taking the cumulative total to 8,322.
Read more »

Malaysia reports 38 new coronavirus cases, one new deathMalaysian health officials reported 38 new coronavirus cases on Saturday, taking the cumulative total to 8,304.
Read more »

Italy reports 72 new COVID deaths on Saturday, 270 new casesItaly reported 72 new COVID-19 deaths on Saturday against 85 a day earlier and 270 new cases, down from 518 the day before, the Civil Protection department said.
Read more »