Air Transport World

Air New Zealand: article)

The departure of CEO Ralph Norris last August and his replacement in the fall by Group GM-Airlines Rob Fyfe marked a year in which ANZ continued to roll out its new inflight cabin product across its international fleet while coming under increasing pressure on the transtasman from Emirates and other competitors.

After reporting an 8% rise in net income to NZ$180 million ($125.6 million) but a 3% profit decline before unusuals for the fiscal year ended June 30, 2005, ANZ saw its profit plummet 55% to NZ$46 million for the fiscal first half ended Dec. 31. Higher fuel costs and intense competition were the main culprits, and the turnabout signaled to Fyfe the need to transform the airline. …

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