Foran already alluded to this a few days back
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Perhaps Govt will buy fleet and lease back as was done with rail track many years ago.
Virgin look to be "in it" good and proper. Could be a fire sale of their fleet coming up later this year.
Why is AIR NZ doing this if it costs them money? Likewise with the national network? If its not profitable but vital for the country the government and/or the respective businesses should subsidise it.
What a bad time to have a travel newbie at the helm. Was hoping Rob Fyfe might return as an adviser at least but see he has a task somewhere else. Guess why would you come back just to swing the axe.
Foran has been far too slow in a time that requires decisiveness. Ground the whole fleet and call everyone's bluff. Management, the workforce and the government all need to chip in. Subsidies, pay cuts, redundancies and compulsory unpaid leave will see the airline through.
Not a fan of Alan Joyce but he is showing how its done. 70% of staff gone or on unpaid leave, no international flights and 30% pay cuts for management. AIR NZ in comparison just sleep walking.
PS: thanks John Key for all that great forex/oil hedging advice !! :mad ;:
Hi Jaa
I believe Australian law allows the LWOP to be implemented as it has been. So QANTAS was able to apply the law ASAP.
NZ law does not allow for this.
Companies cannot force accrued leave to be taken BUT can force (after consultation, if that 'fails' then by law can force) Due and Excess leave to be taken. These two leave types are leave balances on 12 months or more.
My understanding is that Air NZ has asked the question and the response was fast from employees. Even given 30% will go soon (overseas offices are getting the haircuts this week, locals soon thereafter) another 750 asked for voluntary exit, 2700 for LWOP and 4000 for part time.
I think Air NZ people, aside from wanting their jobs post crisis - actually like working where they work.
Foran has told employees this week that management have foregone 'tens of millions' in salary cuts, bonus cancellations and incentive schemes stopped. I know that one large group within the flying part of the business has handed back half a million dollars in the next 3 months without having been asked to do so as a solidarity gesture to the company.
Maybe Air NZ isn't as sleepy as we think.
Apparently AIR doing 12 round trips to London this month, presumably to repatriate displaced tourists.
Virgin Australia donating all their grounded loo-roll to good causes, must be worth bailing out then.
I would love to get on a plane, with or without loo-roll and go 'home' but I am locked out of my country of residence until further notice :eek2: