Air New Zealand's CEO, Greg Foran, has stated that while the airline aims to lower fares, it's unlikely that they will return to pre-pandemic levels.
Air New Zealand’s CEO, Greg Foran, has stated that while the airline aims to lower fares, it’s unlikely that they will return to pre-pandemic levels. Despite the airline reporting an annual net profit of $412 million after three years of pandemic-related losses, Foran explained that the demand for travel this year has led to higher pricing, with fares increasing by an average of 30 to 35% since the onset of the Covid-19 pandemic. To address the issue, the airline plans to introduce more aircraft and seats into its fleet. However, Foran also highlighted rising costs in areas such as spare parts, new aircraft, and airport landing charges. Consumer advocates emphasize the importance of reinvesting profits to offer better customer service, cheaper flights, and more options for travelers.