Episode Details

Air New Zealand faces significant job cuts due to a projected full-year loss of $340 million to $390 million, primarily caused by soaring jet fuel prices resulting from the Iran war. CEO Nikhil Ravishankar aims to cut $100 million in costs through contract renegotiations and reduced non-essential spending, with labor cuts being considered. The airline has already reduced flights by 5% and may cut another 10% starting August. Despite challenges, the airline remains optimistic, with Boeing 787s and Airbuses set to return by late June and 2023, respectively. Fare hikes have reached their limit, and the airline has no plans to seek government bailouts.

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