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

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.