Air New Zealand employees get shares for toughest year

June 18, 2021
Air New Zealand
Photo: Air New Zealand

In a lead to other airlines Air New Zealand employees have been given shares for their efforts for one of the toughest years the airline has experienced.

All permanent employees will get $1000 worth of shares.

With the airline facing another tough year, Air New Zealand Chief Executive Greg Foran said it is more important than ever to ensure Air New Zealand staff are recognized for the work they’ve done – and will continue to do – as the airline recovers.

“This is the right thing to do given the mahi and sacrifices Air New Zealanders have made to get the airline through Survive and into its Revive phase,” says Mr. Foran.

“And by awarding shares to our employees, we want them to have the chance to benefit from the future success we will really need their help to deliver.

“I’m immensely proud of the way our people have responded to the COVID-19 crisis. They have risen to the occasion, working hard to keep New Zealand connected and Kiwis safe.

Air New Zealand
Air New Zealand CEO Greg Foran

“Some pilots and crew spent more than 100 days in isolation to help reunite thousands of overseas Kiwis with their loved ones. Our cargo team has helped take 100,000 tonnes of New Zealand product to the world. Day in-and-out our people have done, and continue to do, everything they can in challenging and changing conditions to keep our customers safe.”

Around 8,000 employees will be eligible for the share award, which will be made in the last quarter of this calendar year. This will be available to New Zealand and Australian employees, and as a cash equivalent for those in other global locations.

And in another bonus after 15 months of reduced salaries, the airline will end employee salary reductions from July 1.

“These steps are possible because we’re on a more stable financial footing given our strong domestic business and growing Tasman and Cook Islands revenues.

“While a full recovery is still some time away, the changes announced today recognize that we cannot get there without an exceptional and ongoing contribution by our dedicated Air New Zealand team.

“We thank our people for the sacrifices made over the past 15 months and for their ongoing commitment to our customers in the coming year,”
Mr Foran said.