Air NZ triggers trading halt, readies for redundancies

Air NZ has triggered a self-imposed trading halt from Monday to allow itself “more time to more fully assess the operational and financial impacts of global travel restrictions”. It does not state when this will be lifted. The airline says: “As a result of the downturn in travel Air NZ continues to review its cost base and will need to start the process of redundancies for permanent positions[,] acknowledging the important role partnering with unions has in this process.” CE Greg Foran says: “We are now accepting that for the coming months at least Air NZ will be a smaller airline requiring fewer resources, including people." Foran adds that the airline is “working constructively” with the 4 main unions “to ensure the right outcome for all staff”. These are E tu, AMEA, NZALPA and Federation of Air NZ Pilots. <br/>