Air New Zealand chief Greg Foran has resigned and will be leaving the airline in October.
The airline states on 6 March that it has commenced a global search for Foran’s replacement.
Air New Zealand chair Therese Walsh says Foran “has indicated to the board” that the airline is “set up well to continue its trajectory of growth and innovation”, and that the “time is right” for him to “take on a new challenge” elsewhere.
Foran’s five-year tenure was mostly marked by the Covid-19 pandemic, which saw New Zealand come under strict travel curbs. After borders reopened, Air New Zealand was hit significantly by engine reliability issues on both narrowbody Airbus and widebody Boeing jets.
Foran’s resignation comes amid a period of “uncertainty” at the airline. Air New Zealand said in February it expects a “significantly lower” financial performance in the six months to end-June, as it anticipates the number of aircraft grounded over engine issues to grow over the next few months.
The engine issues, which Foran has candidly called “frustrating”, have forced the Star Alliance operator to cut capacity growth in the near-term. International long-haul capacity for the year ending 30 June will be down up to 5% year on year, while domestic capacity will be down up to 2%.
Foran alludes to the ongoing supply challenges at the airline in his latest comments, but stresses that the airline’s prospects remain “very bright”.
He states: “Despite so many issues outside of our control, we have continued to deliver improvements to our service every day and I’ll leave later this year knowing Air New Zealand’s foundations are immensely strong, and its future very bright.”
Foran joined the airline in February 2020 from Walmart US, where he was its CEO until 2019.
