World’s top retailer is now trying to save Air New Zealand

Once hailed as the planet’s greatest retailer, Greg Foran could now make a reasonable claim to be the hardest working man in aviation. It’s an unlikely switchup for an executive who led a turnaround of Walmart Inc.’s turgid US store network before the pandemic. Foran’s microscopic attention to detail — from bringing back toilet-seat covers for germophobic staff to picking out limp lettuces — was part of a famed leadership style that led Walmart CEO Doug McMillon to term him the best retailer in the world. Now gray and 63, and thousands of miles from a Walmart store, Foran is deep in the weeds again at the helm of Air New Zealand Ltd. Even as CEO, Foran reckons he’s personally checked in 20,000 passengers since joining the carrier in 2020. But his extreme work ethic is no match for the unyielding realities of grounded jets and delayed plane deliveries. Air New Zealand has instead become a sorry case study of how broken supply lines are dogging aviation long after the pandemic. Profit has cratered again and the stock is languishing 70% below 2020 highs. Air New Zealand has it tougher than its peers partly due to its geographic location. With a population of around 5.2m, New Zealand’s domestic market is relatively small while its isolation means the majority of the carrier’s overseas routes are ultra-long haul, making jet fuel a significant expense. To neighboring Australia, its most-popular international destination, Qantas Airways Ltd. and its low-cost arm Jetstar, along with Virgin Australia provide stiff competition.<br/>