Air NZ to cut international capacity by 85%; in trading halt
An analyst says the Government is likely to be called in to help prop up the airline.
An analyst says the Government is likely to be called in to help prop up the airline.
The airline is working with the Government and unions as the crisis deepens.
Shares in one of the world's biggest carriers fell by nearly 25 per cent.
The Scarlet Lady's delayed voyage is another blow to the embattled industry.
This comes a month after the company cut its annual earnings guidance by $5m.
But one NZ agent says there are signs businesses have plans to resume travel.
Hundreds of trips will need to be rebooked by agents.
Staff are being redeployed around the business.
Union leaders were shown the bleak demand picture at a meeting yesterday.
The airline is slashing capacity, grounding superjumbos as it rides the storm
Greg Foran started in Air NZ's top job on February 3 - as the Covid-19 crisis hit
It could be survival of the fittest if the coronavirus crisis worsens.
Companies sprout red flags, pointing to financial vulnerabilities created by the outbreak
A hotel industry veteran's virtual concierge is aimed at disrupting the disrupters.
Analysts say the market may have over-reacted to the financial threat to listed companies.
This is the worst financial hit facing Air NZ since 2001 but it's a different airline now.
Collapsing demand is forcing airlines to cut routes around the world.
Some airlines are reporting 50 per cent passenger no shows, scores of planes grounded.
With the China visitor market plunging Australia, Britain and the US will get a boost.
The airline is working on ways to cope with a plunge in passenger numbers.
The company has also cut its dividend.
New chief executive also explains aims of 'directed diagnostic' of the business.
The airline maintains its 11c dividend and shares bounce in early trading.
Airline has spent 3 years developing what it is hoping will revolutionise Economy class.
The airline will trial the Holy Grail for Economy passengers - lie flat pods
Airlines call for relief from fee increases and Govt help as coronavirus hits hard.
Exceptional service and noise cancellation headphones could ruin you for economy.
The company says new regulatory settings will hinder further investment.
New Air NZ boss Greg Foran has joined the airline as the industry faces massive losses.
Airlines and suppliers are dropping travel deals to stimulate the market.