'$450m a month': Rob Fyfe says Air NZ needs country's help
Rob Fyfe says the airline must survive, takes a swipe over border rules.
Rob Fyfe says the airline must survive, takes a swipe over border rules.
This is the first of a range of measures to cut staff costs by 30 per cent.
The Govt will unveil a $600m package as the funding future of Air NZ is worked on.
Air NZ has slashed capacity and is poised for even deeper cuts in its domestic routes.
The move is a further blow to the airline which has suffered heavy losses recently.
Business community looks to keeping customers and staff safe.
Air New Zealand has activated crisis centres at head office and at Auckland Airport.
Moves to safeguard connections to the world have been welcomed.
Finance Minister Grant said the airline was subject to ongoing discussions.
Australian carrier says it may use passenger planes for freight operations.
Slumping demand and travel restrictions mean services are pared back or suspended.
The interim dividend of 11c has also been cancelled.
Expert makes the dramatic prediction as countries lock down their borders.
Up to 30 per cent of Air NZ staff face losing their jobs as travel dries up
An analyst says the Government is likely to be called in to help prop up the airline.
The airline is working with the Government and unions as the crisis deepens.
Air New Zealand is battling to manage the surge in customer calls.
The strict restrictions left room for some Kiwis to continue doing their jobs.
Travel agent says store closures are limited to Australia.
This comes a month after the company cut its annual earnings guidance by $5m.
But one NZ agent says there are signs businesses have plans to resume travel.
Hundreds of trips will need to be rebooked by agents.
Staff are being redeployed around the business.
Union leaders were shown the bleak demand picture at a meeting yesterday.
COMMENT: Reasons behind salary sacrifices are bad news in the long run for passengers.
Photos show the multimillion-dollar headache facing airlines around the world.
The airline is slashing capacity, grounding superjumbos as it rides the storm
Greg Foran started in Air NZ's top job on February 3 - as the Covid-19 crisis hit
It could be survival of the fittest if the coronavirus crisis worsens.
The airline has also slashed network capacity by about 10% for the next three months