The airline said it aimed to deliver \u201ctop-tier reliability and punctuality with a relentless focus on priority segments\u201d. <\/p>\n
It said its on-time performance improvement was improving.<\/p>\n
Air NZ said a targeted growth plan would build its presence in larger, resilient markets to generate returns and support New Zealand tourism. <\/p>\n
\u201cWe are fine-tuning our premium service flow and product offering, and allocating more resources to our highest return-on-capital areas.\u201d<\/p>\n
The airline also said it was working with aircraft manufacturers to \u201creprofile\u201d aircraft deliveries to smooth capital expenditure. <\/p>\n
It still expected to lose $340m-$390m this financial year, which ends today.<\/p>\n
\u201cAir New Zealand is moving from post-Covid and engine-disruption recovery into a new phase,\u201d it added.<\/p>\n
The airline also outlined what it called \u201cmust wins\u201d in the investor presentation.<\/p>\n
Those included safe, reliable, punctual operations and a uniquely Kiwi service. <\/p>\n
It indicated it would focus on business travellers and inbound premium tourists. <\/p>\n
Ravishankar earlier this month told the Herald progress had been made after years of crippling engine issues<\/a>.<\/p>\n The airline today said grounded aircraft were returning to service earlier than expected.<\/p>\n It said no 787s were grounded, whereas up to five had previously been unavailable.<\/p>\n However, two members of its A320\/1neo narrowbody fleet were grounded, down from a peak of six.<\/p>\n \u201cManagement is re-profiling aircraft deliveries, in discussion with manufacturers.\u201d<\/p>\n Capital expenditure on new aircraft was expected to peak in the next financial year.<\/p>\n That included contracted 787 and A321neo deliveries. <\/p>\n It said delivery dates were subject to agreement with manufacturers and it was negotiating an updated 787 delivery profile.<\/p>\n The company did not go into detail about layoffs<\/a>.<\/p>\n However, it said it expected about $100m of annualised savings from FY27, with \u201clabour and overhead\u201d identified as near-term cost drivers.<\/p>\n Labour and fuel are typically the biggest costs, and the airline said it had embarked on a fuel efficiency programme.<\/p>\n Air NZ said it aimed to become \u201cthe world\u2019s most respected airline\u201d.<\/p>\n Ravishankar and chief financial officer Richard Thomson will host a conference call for investors and analysts at 1pm today.<\/p>\n Air New Zealand has made numerous domestic and regional schedule changes in response to financial pressures this year.<\/p>\n Data released to the Herald under the Official Information Act outlined cuts for periods including June 29 to July 26.<\/p>\n For Auckland, across both regional and trunk routes, the schedule was reduced by 234 return flights.<\/p>\n In the short-haul international segment, 49 return flights were cut, with a further 20 downgauges and two upgauges.<\/p>\n An upgauge involved using a bigger aircraft, and a downgauge meant a smaller aircraft was deployed.<\/p>\n Twelve long-haul international flights would be cut across these four weeks.<\/p>\n The office of Associate Minister of Transport James Meager released the data.<\/p>\n For Wellington, across regional and trunk routes, 164 return flights were cut, and nine short-haul international flights were cut.<\/p>\n For Christchurch, 138 return flights were cut from the domestic schedule. <\/p>\n There were no cuts in this period to Air New Zealand\u2019s international services to and from Christchurch.<\/p>\n