Greg Foran goes hard to reverse Air New Zealand’s nose dive
Does Greg Foran regret giving up his plum job running Walmart in the United States to become CE of Air New Zealand? He certainly would have cause to. The rugby-mad Kiwi landed back home as the COVID-19 pandemic approached, and has fought everything from engine part shortages grounding four of its Boeing Dreamliners to a surge of interest from international carriers on his turf. But it does not seem so. “You just get on with it, don’t you?” he says. Actually, Foran, 63, appears to have a spring in his step for the first time since taking charge of Air New Zealand in February 2020. The airline is preparing to unveil a more luxurious cabin for its long-haul services, and resume flying to London, two changes that Foran hopes will give the carrier an advantage when competing with its big rivals. For years, Air New Zealand loomed large over other regional carriers. While Qantas lumbered through industrial disputes and big debts, Air New Zealand expanded. It owned a stake in Virgin Australia and was the first in the world to receive a Dreamliner from Boeing in 2014. By the time Foran arrived, however, Air New Zealand was already contending with more competition, fewer fliers and far lower profits. It had stopped flying to London, selling its valuable Heathrow slots for $US27m in 2020. In the same month Foran arrived, the carrier reported its lowest half-year profit in seven years. The pandemic only worsened the turmoil. Even now, in an era of super profits for the world’s big airlines, Air New Zealand has disappointed. And as Foran spruiked a return to London this week, the airline continued cutting back on domestic flights. To make matters more complicated, it is arguably the government’s fault that Foran has been left with this mess. The New Zealand government owns 51% of the airline – and the current prime minister, Christopher Luxon, was Foran’s predecessor as the carrier’s CE. How hard is it to do the job with Luxon looking over his shoulder? “You’ve got to be conscious of it,” Foran admits in an interview. “But I’ve been around a bit and run some big, complex businesses.”<br/>
https://portal.staralliance.com/cms/news/hot-topics/2024-12-06/star/greg-foran-goes-hard-to-reverse-air-new-zealand2019s-nose-dive
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Greg Foran goes hard to reverse Air New Zealand’s nose dive
Does Greg Foran regret giving up his plum job running Walmart in the United States to become CE of Air New Zealand? He certainly would have cause to. The rugby-mad Kiwi landed back home as the COVID-19 pandemic approached, and has fought everything from engine part shortages grounding four of its Boeing Dreamliners to a surge of interest from international carriers on his turf. But it does not seem so. “You just get on with it, don’t you?” he says. Actually, Foran, 63, appears to have a spring in his step for the first time since taking charge of Air New Zealand in February 2020. The airline is preparing to unveil a more luxurious cabin for its long-haul services, and resume flying to London, two changes that Foran hopes will give the carrier an advantage when competing with its big rivals. For years, Air New Zealand loomed large over other regional carriers. While Qantas lumbered through industrial disputes and big debts, Air New Zealand expanded. It owned a stake in Virgin Australia and was the first in the world to receive a Dreamliner from Boeing in 2014. By the time Foran arrived, however, Air New Zealand was already contending with more competition, fewer fliers and far lower profits. It had stopped flying to London, selling its valuable Heathrow slots for $US27m in 2020. In the same month Foran arrived, the carrier reported its lowest half-year profit in seven years. The pandemic only worsened the turmoil. Even now, in an era of super profits for the world’s big airlines, Air New Zealand has disappointed. And as Foran spruiked a return to London this week, the airline continued cutting back on domestic flights. To make matters more complicated, it is arguably the government’s fault that Foran has been left with this mess. The New Zealand government owns 51% of the airline – and the current prime minister, Christopher Luxon, was Foran’s predecessor as the carrier’s CE. How hard is it to do the job with Luxon looking over his shoulder? “You’ve got to be conscious of it,” Foran admits in an interview. “But I’ve been around a bit and run some big, complex businesses.”<br/>
