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Thread: AIR - Air NZ.

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    Senior Member Marilyn Munroe's Avatar
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    The unions seem surprised the spreadsheet jockeys at Bain have done the dirty on them. Bain are about as likely to stick to their word as the signatories to the Hitler-Stalin pact.

    Commenter Jazz in the SMH article has it nailed;

    "Bain is a leveraged buyout outfit. They will take a well-established but floundering business, strip it down to the few obvious areas of profitability, max out on debt and then cash out on the share market."

    Boop boop de do
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    Been a spot of bother about not much with the dribble to Australia but nevertheless it is growing, with South Australia joining effective immediately.

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    This Disputes Tribunal decision is not good for AIR. It will be interesting to see if they appeal it. They probably will as this could seriously deplete their cash reserves https://www.nzherald.co.nz/nz/covid-...JDE67ZZ5GL3J4/

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    Quote Originally Posted by winner69 View Post
    Apparently AIR a pretty unhappy place under new CEO

    Must affect business as airlines are all about people.
    Not so much the CEO more that packages are padded with co performance bonuses and staff travel discounts. Base salaries well below market without bonuses and no one is flying OS. This is applies to all permanent employees not just management.

    Makes it hard to attract new talent. Possible ladder climbing for those willing to stick it out - particularly those with a decent amount of IP. As investors we have to ask ourselves: are they the best people for the job or the only people ?
    Last edited by causecelebre; 29-10-2020 at 08:33 AM.

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    ShareTrader Legend Beagle's Avatar
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    Quote Originally Posted by iceman View Post
    This Disputes Tribunal decision is not good for AIR. It will be interesting to see if they appeal it. They probably will as this could seriously deplete their cash reserves https://www.nzherald.co.nz/nz/covid-...JDE67ZZ5GL3J4/
    I have always been of the opinion it is egregiously unfair and unreasonable that they can cancel your flights and keep your money. I accept with non refundable tickets if I cancel my flights they can keep my money.

    Meanwhile in other news in the industry it seems many airlines are cancelling orders for new aircraft. https://www.nzherald.co.nz/business/...QSPBVTOQQYL4Q/

    If I recall correctly from the recent conference call at AIR there are about 2,000 staff on incentive programs at AIR. The average salary is about $110,000 right across the airline. I think there's a whole bunch of people that have gotten far too used to the gravy train of endless bonus's and free travel. Time for the prince's and princesses of the travel industry to suck it up and be paid at a more realistic level.. My hearts bleeds for them, (NOT) !
    Last edited by Beagle; 29-10-2020 at 09:42 AM.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  6. #18246
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    Quote Originally Posted by iceman View Post
    This Disputes Tribunal decision is not good for AIR. It will be interesting to see if they appeal it. They probably will as this could seriously deplete their cash reserves https://www.nzherald.co.nz/nz/covid-...JDE67ZZ5GL3J4/
    As noted in the article though, Disputes Tribunal decisions do not set precedent. There is no requirement for the courts or even another application to the Disputes Tribunal to rule in accordance with this decision.

  7. #18247
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    Quote Originally Posted by Beagle View Post

    If I recall correctly from the recent conference call at AIR there are about 2,000 staff on incentive programs at AIR. The average salary is about $110,000 right across the airline. I think there's a whole bunch of people that have gotten far too used to the gravy train of endless bonus's and free travel. Time for the prince's and princesses of the travel industry to suck it up and be paid at a more realistic level.. My hearts bleeds for them, (NOT) !
    Another snarky post from you Roger. As an accountant you would/should have an idea on what an average means. There are a lot of people employed below this average of your memorised figure as well as a lot of skilled people above it. You get paid more than an unqualified clerk I am sure. $110.000 these days is not exactly high either. But stick it to AirNZ and it's staff as you continually want to do.

    You were the reason I stopped monitoring this forum for some months. I am on my way again.

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    Quote Originally Posted by 777 View Post
    Another snarky post from you Roger. As an accountant you would/should have an idea on what an average means. There are a lot of people employed below this average of your memorised figure as well as a lot of skilled people above it. You get paid more than an unqualified clerk I am sure. $110.000 these days is not exactly high either. But stick it to AirNZ and it's staff as you continually want to do.

    You were the reason I stopped monitoring this forum for some months. I am on my way again.
    I love $110,000 is not exactly high for which job......... I have a friend who is a partner in an accountancy firm and they struggle to get qualified accountants for much less than $110,000. I guess that is where Beagle is coming from. A fully qualified accountant is currently being offered slightly over $70,000 per year and there is a massive shortage in them.
    Last edited by Ggcc; 29-10-2020 at 12:12 PM.

  9. #18249
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    Quote Originally Posted by Ggcc View Post
    I love $110,000 is not exactly high for which job......... I have a friend who is a partner in an accountancy firm and they struggle to get qualified accountants for much less than $110,000. I guess that is where Beagle is coming from. A fully qualified accountant is currently being offered slightly over $70,000 per year and there is a massive shortage in them.
    And don't forget a village manager of a large retirement facility doesn't get 100k, some sectors seem to be grossly overpaid by comparison.
    Last edited by couta1; 29-10-2020 at 12:20 PM.

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    Can someone confirm Air Hostesses wages as I heard was around 49k

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