Interview between Richard Quest and Air NZs Rob Fyfe about the price of oil going up.
ROB FYFE, CEO, AIR NEW ZEALAND: I'd actually be happy with fuel at $150. I'd be happy with fuel at $200. We are actually an incredibly robust airline. We've got a very strong balance sheet. There's a lot of airlines out there that struggle to economically survive. They get by by the skin of their teeth. To be honest, if high fuel started to claim some of the struggling airlines out of the industry --
QUEST: Oh!
FYFE: -- it wouldn't concern me at all.
QUEST: Oh! Oh! That's a polite -- you just want -- you want nutcracker the competition!
FYFE: Well, the reality is, the strong should get stronger, and those that aren't strong enough should, actually, fall by the wayside.
Air NZ has managed to put some cash aside for fuel to rise (sound strategy if you ask me). Alan just seems to wait until fuel goes up so he can use it as a tool to screw his workers.
POOR STRATEGY MANAGEMENT ALAN. SHAME.