Belfast Telegraph

Saturday 19 April 2014

Airline to shed hundreds of posts

Air New Zealand is to reduce its staff by 441 people

Air New Zealand plans to cut hundreds of jobs after a 71% drop in its half-year profit.

New Zealand's national carrier announced it plans to reduce its work force by 441 people - 175 through lay-offs and the rest through attrition.

The airline has a staff of 11,500.

The airline said its profit before tax for the six months ending December 2011 was down more than two-thirds to 33 million New Zealand dollars (27.5 million US dollars).

In a statement, the airline blamed a weak global economy and the high cost of jet fuel for the result, but said its overall position remains strong and it will keep paying shareholders a dividend.

The company's chief executive, Rob Fyfe, announced last month he will retire effective December to pursue other opportunities.

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