Friday 5th September 2008
|Text too small?|
"In the current market of static growth, demand must be stimulated by having better product than your competitors, or better pricing," said Glen Sowry, manager of Tasman and Pacific services.
The new fares, effective Oct. 14, coincide with the introduction of airline's refitted A320 and Boeing 767 aircraft that fly the Tasman and Pacific Island routes. The planes have had a NZ$40 million spend on passenger services such as entertainment systems.
Sowry said the airline cut prices to stimulate demand on Tasman routes, where there is surplus capacity.
Air New Zealand stock fell 1.7% to NZ$1.14 and has declined 45% in the past 12 months.
No comments yet
Air NZ plans to raise stake in Virgin Australia to 25.9 percent after gaining approvals
Air NZ keeps balance sheet plump, holds back on dividends as fleet renewal looms
Air New Zealand plans to close Auckland maintenance facility, cut 180 jobs, union says
Air NZ's Safe Air unit cuts 84 jobs in Blenheim as contracts end
Air NZ agrees to settle cartel case, expects earnings at upper end of guidance
Air NZ lifts stake in Virgin Australia to 23 percent , may creep up to 26 percent
Air NZ backs down on challenge to cargo suit against regulator
Air New Zealand reviews Japan flights as decline in yen makes travel more expensive
Ex-Foodstuffs boss Carter to head up Air NZ board
Air NZ shares jump 5.6 percent as airline flags annual earnings to more than double