Air NZ Profits Fall and Slashes Jobs

[Artificial Horizon]

Air New Zealand to slash jobs as earnings plummet | Stuff.co.nz (http://www.stuff.co.nz/business/industries/6473391/Air-New-Zealand-to-slash-jobs-as-earnings-plummet)

Interesting to see that Air New Zealand has had a very similar year to that of Qantas in financial terms with profit down a significant amount and the share price plummeting. In Qantas' case however all is blamed on the CEO and there are daily calls for his 'head', whereas Air New Zealands' CEO is celebrated as some kind of CEO 'Rockstar'. Why the big difference??

[Aerozepplin]

Because Air NZ has a future? A clear and logical direction? The right aircraft? No Jetstar?

[adsyj]

Because Fyfe is trying to run an airline and Joyce is trying to dismantle one.

[Luke SkyToddler]

I'd say it's a pretty bloody reasonable result considering the circumstances, you can't stand up forever to the kind of capacity dumping that EK is doing on their core routes (Oz & London) without having to go into defensive mode and downsizing after a while. Think I was surrounded by two A6-reg 777s and a 380, last time I parked at NZAA? Every country that parasitic airline goes into, it's the same story. I mean there's fair honest competition and then there's just :mad:

Good luck to the 441 good kiwis about to join the dole :(

[mattyj]

HR department with any luck :D

[TBM-Legend]

so ANZ lays of 440 out of 11,500 and QF 500 out of 33,000...

Much more unfortunate hurt in Kiwiland..

[Aerozepplin]

Never nice to have people out of work, but I'd much rather be one of the 11,500 than the 33,000 when it comes to continued security.

[propaganda]

I would suggest that this announcement is more to do with the partial asset sales of our SOEs. If the Air NZ board can show an improved return for future stakeholders then they'll get a higher price per share and Mr Key will be very pleased with Mr Fyfe, and may be even offer him a new job.!!.

[waren9]

AH

AirNZ hit disproportionately harder by events in Chch, Japan and Chile would be my guess.

[Captain Gidday]

so ANZ lays of 440 out of 11,500 and QF 500 out of 33,000...

Much more unfortunate hurt in Kiwiland..
24th Feb 2012 01:45

Actually, according to The Sydney Morning Herald (http://www.smh.com.au/business/qantas-admits-more-job-losses-on-cards-20120216-1tbx3.html#ixzz1nGzRmYdf):
QANTAS has signalled that the total job losses over the coming months will be significantly higher than the 500 positions it confirmed yesterday.

The latest redundancies will take the number of jobs Qantas has announced to be axed over the past four years to nearly 5000.

Finally, Aussies beating Kiwis at something.... :O
Though, more exactly, the Irish are beating us, as in 'the beatings will continue, until morale improves'.

[Bypass ratio]

Luke Skytoddler......Feels great to be an Aussie expat flying a shiny new widebody all over the globe & gettin' paid 20,000NZD/month in the hand to do it...!:ok:

[Luke SkyToddler]

Glad you're enjoying it Bypass. I did 3 years in the sandpit with QR, and 50 million wild horses couldn't drag me back there now, my family's never been so happy as the day we got on a one way ticket out of there.

Some things money can't buy in this world, you know ...

[Capt W E Johns]

Bypass ratio: Feels great to be an Aussie expat flying a shiny new widebody all over the globe & gettin' paid 20,000NZD/month in the hand to do it

Please remain an expat.

[donpizmeov]

Not sure about the NZD20000 but he certainly has something in his hand..

the Don

[ernestkgann]

Good one Donza!

[ZK-NSN]

Not sure about the NZD20000 but he certainly has something in his hand..

Classic. Good to see spankers are still being put in there place.

[haughtney1]

Not so new tricks (http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10788109)

Seems Air NZ are up to the same tricks that everyone else is in terms of looking for cheaper labour?
Lots of the problems can be summed up in a couple of areas, fuel costs (not as bad as they could have been given the NZD's relative strength against the USD at the moment). Their key longhaul markets, i.e. the US and Europe...both are still in the economic toilet, and lastly the strength of the NZD...which makes NZ a bloody pricey holiday these days.

[mattyj]

What's going on in NZ at the moment. Freezing works, Ports, Retirement villages..all industrial action caused by management wanting more flexible workforces..now Airnz!? Are we not already drowning in huge utility prices and tiny pay rates? (I'm seriously worried about council rates increases for next year) Surely there's no more savings to be made in NZ out of workers!? I'm not saying POA staff aren't on a good wicket but rest home staff!!??..geez wages need to seriously rise everywhere in NZ and quick!