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Air New Zealand in "revive" mode reports CEO Greg Foran
August 26th 2022
Air New Zealand (AirNZ) recorded a net loss of NZ$591 million (US$367.4 million) for the 12 months to June 30 compared with a net loss of NZ$292 million in the year ago period. Read More » Revenue improved 8.6%, to NZ$2.7 billion, the company said in regulatory filings to the Australian and New Zealand stock exchanges. Air NZ CEO, Greg Foran, said the airline was in the “revive” phase of a three part “survive, revive, thrive” strategy from strong bookings. “With borders now open to the majority of the airline's markets, Air New Zealand expects the 2023 financial year to represent the first full year of uninterrupted passenger flying since the beginning of the pandemic,” Foran said. “Total flying capacity for the 2023 financial year is forecast to be in the 75%-80% range of pre-COVID levels. On this basis, the airline anticipates a significant improvement in financial performance relative to financial year 2022.”
