Cash windfall for Air NZ staff after healthy result

By CHRIS DANIELS aviation writer

Air New Zealand staff have been given bonus payments of up to $500 for sticking with the company during its toughest year.

Around 8000 Air New Zealand staffers will get the bonus, announced yesterday with the annual financial results, which showed the airline has been able to successfully pull itself out of the hole it sank into last year.

It made a net profit after tax of $39 million, up from $22 million the year before.

But the airline's bottom line was again hit hard by costs from its failed Ansett investment, written off this year to the tune of $389 million.

Senior executives will not get the cash bonuses, which range between $100 and $500 depending on whether workers are full time, and how much of the past financial year they worked for the airline.

Chief executive and managing director Ralph Norris said there was a new level of staff morale in the company.

"We're not in a position to be profligate, but we realise that a lot of people have made a lot of sacrifices in helping to turn the company around, so the board has agreed that we should recognise that in a tangible way."

Engineers Union national secretary Andrew Little said Air New Zealand workers had a renewed sense of confidence in their senior management and the direction they had set.

"The workforce is pleased to have got through the crisis of last year," he said.

While the payments were welcome, staff would likely be more pleased with the turnaround in the financial results.

"The result is a good result, it just helps to give people a sense of security about the long-term future of the airline," he said.

"It is a testament to the workforce and the sacrifices they have made and the contribution they've made.

"It's good all round."