Air NZ boss - Here's why airfares will stay down

Air NZ says increasing competition will continue to push down air fares and the airline will sell around 800,000 fares for under NZ$100 this year. The company announced last week a record pre-tax profit of $663m. Its CE Christopher Luxon said it had never been a better time to travel. More international and domestic competition would mean fares would be kept down. Air NZ was also expanding its route network. "The reality for us that as we go forward there will be more competition in the market place. It will mean there will be pressure on our yields as we go into the coming year." Luxon said in 1983 a one-way flight from to Auckland to Los Angeles cost around $1000, today it's less. "In a 30 year period there wouldn't be many other products and services that have done that." <br/>