Originally Posted by
73qanda
I think you might be wrong but I don’t know for sure. Staff costs p/a will be only a bit less than fuel bill if Air NZ is anything like my last Airline. (Annual report will tell you.)
A big part of everyone taking a greater % cut is that it impacts greatly on the lives of the 205 and their sons and daughters and husbands and wives.
The other big incentive is to save your company the massive headache and cost of everyone swapping seats and the risk to the company ( jobs) that brings.
Is it too late for you guys to organise a variation like this?
The company have told us beyond the the 14% cut, those who agree voluntarily to 12+ months LWOP or 50% Pay will reduce the number of compulsory redundancies. We'll find out today how many have applied.
My comment about working for free was more in relation to after the "first wave" which is being finalized as we speak. If the Company is still bleeding cash, taking another cut from the Pilots (or staff in general) will have minimal impact. There are larger infasctruce cuts that will need to be explored.
The Annual wage bill is (was) ~$1.3B of the total ~$4.6B Operating expense, fuel was also ~$1.3B. Jet Pilot wages accounted for approx. $230M of the total. Fuel is obviously down right now, and wages should be ~30% less after Redundancies. The next fous will need to be on the other $2.0B of expenses before taking another cut from the staff.... I would expect.
https://p-airnz.com/cms/assets/PDFs/...al-results.pdf
https://indd.adobe.com/view/39f87018...3-fa2201033a84