Air Transport World

Phoenix Award: Air New Zealand.(ATW Airline Achievement Awards)

Last year, ATW introduced a new award to recognize airlines achieving a commercial rebirth through a life-changing transformation. The first recipient, Aer Lingus, successfully implemented a low-cost business model, demonstrating that a traditional flag carrier can "change its spots." This year's winner, Air New Zealand, likewise survived a near-death experience in 2001 to remake itself into a profitable and innovative competitor across different markets.

ANZ's plunge was prompted by the collapse of its Ansett subsidiary. The NZ$1.45 billion writeoff associated with that disaster pushed it to near-collapse and forced the government to step in with an NZ$885 million recapitalization, resulting in the government's emerging as the carrier's controlling shareholder with an 82% stake. …

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