AIR - Air NZ.

[mikelee]

Yes, finally dropped below $1.40. Unbelievable that the SP was able to hang around mid $1.50 for so long. But with the high fuel prices and borders still largely closed, I would not touch it. Even AIA dropped below $7 for only the 2nd time in a long time.

[Beagle]

US airlines are being smashed 20-30% the past week so AIR down less as they aren't really using much jet fuel = cheaper to keep the planes on the ground than be flying!

I jest, or do I?

Jethole are known to do that A LOT. Lots of last minute cancellations if they don't get sufficient load to make it a profitable trip. They simply blame it on engineering or staffing issues. You cannot rely on them for any business flight...they really couldn't care less about their obligation to make all possible efforts to get people where they need to be. That's my perception of them. My perception could be wrong but I would never fly them again for a business trip. AIR could be headed down the same rabbit hole, who knows..., anyway what do I care, if I can't drive to where I want to go at present I'm not going, simple as that. Breathing in all that recirculated virus laden air...no thank you, not even if the flight was free or AIR paid me !

[Arbroath]

Yes, finally dropped below $1.40. Unbelievable that the SP was able to hang around mid $1.50 for so long. But with the high fuel prices and borders still largely closed, I would not touch it. Even AIA dropped below $7 for only the 2nd time in a long time.

Relax AIR back up to $1.45 because everything is going to be OK! anyway where has that fairytale book gone....Grant and the Giant Lemon...

[nztx]

https://www.stuff.co.nz/business/127...on-lower-wages

Air NZ senior cabin crew to strike in support redundant staff re-hired on lower wages

Air New Zealand international cabin crew leaders have issued a strike notice in support of crew who are returning from redundancy on much lower pay.

E tū head of aviation Savage​ said experienced crew on the long-haul Boeing 787-9 and Boeing 777-300ER fleet who were made redundant because of the Covid-19 pandemic were being re-hired at a much lower wage.

Air New Zealand senior cabin crew earned an average salary of between $53,645 and $62,117.

But many leaders made redundant at the start of the pandemic were being hired back at the starting rate of $42,917, which over a 40-hour week worked out to be $20.60 an hour, he said.

Darn - just when .. more storm clouds appear

[peat]

strongly down on larger than usual volume

AIR20220312.JPG

[mikelee]

Perhaps these senior crew should all take a 20% pay cut instead, to show their support to both their colleagues and the company in this difficult time. I suspect mostly it's about the principal than making enough to pay the bills. After all, with so much of their living expenses paid for, while on the road, I'm sure the crews can all come together to support the airline to ensure that they all have a job and continue to enjoy the life style they love so much. I reckon the recent high inflation would hit the airline's clerical staff hardest, as they're on fixed salary, with no overtime or allowances like the crew.

[SPC]

If you were paid redundancy then your old job disappeared. Coming back you a accept the terms of the new job you applied for and the pay it comes with. It isn't the old job.
Furloughed staff probably have a previous employment terms they can resume.
Given the airline is largely a Govt entity now I expect the union feels emboldened...

[nztx]

If you were paid redundancy then your old job disappeared. Coming back you a accept the terms of the new job you applied for and the pay it comes with. It isn't the old job.
Furloughed staff probably have a previous employment terms they can resume.
Given the airline is largely a Govt entity now I expect the union feels emboldened...

Probably on the money with that game plan ..

[causecelebre]

... I reckon the recent high inflation would hit the airline's clerical staff hardest, as they're on fixed salary, with no overtime or allowances like the crew.

Not to mention +/- 30% of the non operations staff package is bonuses which have been cancelled for the foreseeable future.

Not surprising the co. has to engage with consultants, eg. IBM, at 3x the rate of a locally employed worker: No one wants to work there! Kick in the guts for the loyal staff that have to work with them

[Zaphod]

Not surprising the co. has to engage with consultants, eg. IBM, at 3x the rate of a locally employed worker: No one wants to work there! Kick in the guts for the loyal staff that have to work with them

Given the ongoing uncertainty surrounding the demand for AirNZ's services, hiring contractors makes sense particularly for the IT function given the dearth of staff available to permanently fulfill such roles.