Air New Zealand Ltd. CEO Greg Foran in an interview on November 1, 2024.
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Air New Zealand CEO Greg Foran will resign in October after five years at the helm as airlines get involved in global supply chain disruptions and ongoing engine maintenance challenges, it announced Thursday.
Fulan, the former Walmart Executives led the kiwi flag carriers through a turbulent period, with airlines facing unique obstacles compared to their global counterparts, in part due to their geographical isolation.
New Zealand’s relatively small domestic market and fierce competition from its Australian competitors Qantas Airways Virgin Australia intensifies the airline challenge.
With the imminent crisis of Foran, New Zealand Air has been added, from ongoing shortages of engine components to the bases of the nearest 11 aircraft.
He also pioneered the transformation plan for airline’s Dreamliner Fleet, which will be completed later this year.
Therese Walsh Dame Walsh, the company’s chairman, praised Foran’s contribution to managing major global supply chain challenges.
“While these challenges affect our operations almost every day, Greg’s relentless efforts and global visibility have been mitigating the disruptive effect on customers,” Walsh said.
The company has not appointed a successor yet, but confirms that a global search for the new CEO is in progress.
In February, Air New Zealand’s first half profit fell 18%, reflecting the wider impact of global engine maintenance issues, affecting it airbus Neo and Boeing 787 Dreamliner fleet.
The airline’s aircraft are made by Pratt & Whitney and Rolls-Royceboth of which are affected by supply chain delays.
