AIR - Air NZ.

[Rep]

For those who are faced with only a credit rather than a refund... consider the potential for this hypothetical but entirely possible situation:

What happens even an international travel bubble does eventuate so you can travel abroad but your or just about every travel insurer decides that for any international travel that it "...will not provide any cover for claims directly or indirectly arising from, relating to or in any way connected with COVID-19?"

Then what is the use of a high value of credits with Air NZ when you it could be potentially practically unwise to travel without travel insurance because the world has changed? Do you think that Air NZ travel insurance offering won't have this disclaimer? Or that insurance that does cover a claim connected with COVID-19 is potentially unaffordable.... remember most travel cover has a death benefit and COVID 19 still has a relatively high mortality rate and/or the cost of hospitalisation (incl isolation and PPE requirements) other than on the reciprocal arrangements with Australia will be at the travellers cost?

[Raz]

https://www.stuff.co.nz/business/ind...sible-ceo-says

Really!! About time..slow mo

"In a live chat with travel agents in May, Wallace said the airline aim was to retain as many employees as possible and it had shifted its focus to being a domestic airline in the short term."

Why, is it part of the Government conditions on loan facility?

ps Should elevate the SP

[winner69]

More ‘eye watering sad’ news from AIR

Should give the share price another boost

Air going to be super profitable in a year or so

https://www.stuff.co.nz/business/ind...its-wages-bill

[Beagle]

https://www.stuff.co.nz/business/ind...sible-ceo-says

Really!! About time..slow mo

"In a live chat with travel agents in May, Wallace said the airline aim was to retain as many employees as possible and it had shifted its focus to being a domestic airline in the short term."

Why, is it part of the Government conditions on loan facility?

ps Should elevate the SP

Govt do have to approve their business plan if they start drawing on that loan. AIR are playing hard ball with their so called credits because the Govt are ostensibly making them do so, or will be when they start drawing on that loan. All those people with credits they can't use have effectively been "taxed" extra by a quassi Govt department. Someone has to pay for some of Cindy's helicopter money, filthy rich capitalist's who can afford to fly internationally are an easy target eh.

[Jaa]

https://www.stuff.co.nz/business/ind...sible-ceo-says

Really!! About time..slow mo

"In a live chat with travel agents in May, Wallace said the airline aim was to retain as many employees as possible and it had shifted its focus to being a domestic airline in the short term."

Why, is it part of the Government conditions on loan facility?

ps Should elevate the SP

Like how Mr Savage is so Savage he doesn't even need a first name!

[Beagle]

Like how Mr Savage is so Savage he doesn't even get a first name! RIP journalistic standards...

Apparently that's how he likes to be known. Its long overdue that Savage was given some savage treatment. AIR unions are far too powerful.

Bottom line is the fats cats that have been flying the big air buses earning $500K plus a year will have to take a couple of years leave without pay. If they haven't built up substantial assets to weather that storm after decades of earning multi hundred thousand dollar salaries then I'm sorry but that's just too bad.

[Jaa]

Apparently that's how he likes to be known. Its long overdue that Savage was given some savage treatment. AIR unions are far too powerful.

Right you are Beagle, I must retract my earlier statement. Here is the union's statement or perhaps its a copy from the news article. Guess they are just doing their job fighting for their members.

Management need to balance everyone's interests, customers, staff and shareholders. None are more important than the other. No one seems happy so guess they are doing a pretty good job of it!

[jmsnz]

To be honest, I have a bit of sympathy for Air NZ. Maybe they could do better but like many large companies their stakeholders are so varied in nature that they simply can not please everyone all of the time and the rhetoric is often taken over by those with actually little or nothing at stake, as we are seeing in this thread. There have been plenty of other examples like Telecom, Sky etc not to mention Jetstar over the years as well where it gets to the point that it wouldn't matter what they did the negativity is always the headline. We are seeing it again now, the company is saying there will be more staff cuts and immediately the unions not surprisingly cry foul.

I can't see an alternative for Air NZ but to retain as much cash as they can and assuming they can survive long enough they can then have strategies to deal with the fallout. Spending the cash now won't keep everyone happy and will send them broke - that doesn't seem a great strategy.

Good luck to all holders

[Beagle]

https://www.nzherald.co.nz/business/...ectid=12337317

"As we thrive we will not focus on size, but on quality. We will be smaller, flying fewer routes but we will not change our outstanding reputation for care, compassion and heart.''

Try telling that to the hundreds of thousands of customers with credits they can't use. Its time for a Tui !

[jmsnz]

https://www.nzherald.co.nz/business/...ectid=12337317

"As we thrive we will not focus on size, but on quality. We will be smaller, flying fewer routes but we will not change our outstanding reputation for care, compassion and heart.''

Try telling that to the hundreds of thousands of customers with credits they can't use. Its time for a Tui !

Of course the alternative is 'Air NZ goes broke leaving thousands unable to use credits or get refunds....'. That said I agree with you that statement is unfortunate right now although I doubt you would be happy whatever they said.