Luxon blasts Air NZ for ‘very poor result’, says airline’s $242m loss bad even despite global aviation dramas
New Zealand Prime Minister Christopher Luxon has criticized Air New Zealand for a $242 million annual loss, labeling the performance 'very poor.' He ruled out government financial assistance, insisting the airline must solve its own commercial challenges.
Why it matters
The statement highlights the government's hands-off approach to state-linked enterprises and the pressure on national carriers to remain profitable amid global aviation volatility.
Former Air NZ chief executive and current Prime Minister Christopher Luxon has blasted the airline, saying it needs to get its act together “very quickly”.
The airline posted a $242m after-tax loss and lost $336 million before tax in the last financial year.
It cited volatile fuel prices, high maintenance costs, engine availability and aviation system costs for the loss.
But it seems the Prime Minister was having none of that.
He was at the Leaders of the Realm (New Zealand, Cook Islands, Niue, Tokelau) meeting today and asked about the airline results at a press conference.
He said it was a “pretty poor performance” and added: “It’s really up for them to explain what’s caused such a significant loss and also, more importantly, what are they going to do to build a better business?”
Luxon indicated the Government had no interest in giving the airline more money.
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