Greg Foran to leave Air New Zealand in October after five years as CEO

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Greg Foran to leave Air New Zealand in October after five years as CEO

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Greg Foran Chief Executive Officer | Air New Zealand

By Sky Industry News

Mar 10, 2025

Air New Zealand has announced that Greg Foran will depart from his role as CEO in October, after serving for five years. The airline is now embarking on a global search for his successor.

Dame Therese Walsh, Chair of Air New Zealand, commented on Foran's generous notice period, saying it allows the Board ample time to find a replacement. She praised Foran's leadership during challenging times: “[Foran] has always displayed exceptional leadership and grit, not only guiding Air New Zealand through global aviation's most significant crisis but at the same time also maintaining the airline's tradition of innovation, strong culture, and care for our country. ”

Foran assumed his position at Air New Zealand in October 2019. Prior to this role, he served as President and CEO of Walmart. His tenure with the airline was marked by significant challenges brought on by the pandemic and ongoing supply chain issues affecting their Airbus A320neo and Boeing 787 aircraft.

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Walsh highlighted Foran’s management of supply chain challenges as one of his notable contributions: “While these challenges impact our operations almost daily, Greg's relentless focus and global profile have been instrumental in mitigating the consequential disruptions to our customers. ”

Foran expressed gratitude for his time with Air New Zealand: “Despite so many issues outside of our control, we have continued to deliver improvements to our service every day. . . It has been an honor to serve our customers, our 11,500-strong team, and New Zealand. ”

The financial results for H1 FY2024/2025 revealed some difficulties faced by the airline. Foran acknowledged it had been a “tough year” due to parts of its fleet being grounded! valued at NZ$1 billion ($574.5 million). Despite these setbacks! the company reported a net profit of NZ$106 million ($60.8 million) for the six-month period ending December 31! 2024.

The report also noted that revenues stood at NZ$2.9 billion ($1.6 billion), with a capacity reduction contributing to decreased earnings. Compensation from engine manufacturers amounted to $94 million [US$53.9 million – ed note], but earnings could have been approximately $40 million higher if operations had proceeded as intended.

Meanwhile!the Board initiated a share buy-back program worth NZ$100 million ($57!4million)and approved adividendof1!25centsper share based onthecompanys balance sheet strength.