Air New Zealand faces questions over NZX announcement

Air New Zealand chief executive Greg Foran. Photo / Phil Prenderville

NZX market regulators have questioned Air New Zealand over an announcement to the stock exchange today that had the same information released to staff and customers on Friday.

In the NZX announcement - and that released on Friday - chief executive Greg Foran outlined the airline's planned path back to profitability over 800 days. A video summarising the plan was also sent to customers.

In a statement, NZX head of market supervision Joost van Amelsfort said it was making enquiries of Air New Zealand in relation to staff and media releases on Friday afternoon, and its subsequent announcement released via NZX on Monday morning.

"NZX Regulation engaged with Air New Zealand over the weekend on these matters," van Amelsfort said.

"We are not able to comment further at this time."

An Air New Zealand spokeswoman said this afternoon the airline was not commenting on the NZX action.

In the market announcement today, the airline stated: ''On Friday afternoon, chief executive officer Greg Foran sent an email to customers and staff of Air New Zealand, providing an update on a plan for the next 800 days. Please note that this email is not intended to provide a forecast or guidance on revenue or earnings for the 2020 financial year.''

In both announcements, Foran outlined how the airline would get back to profitability through a ''Survive, Revive and Thrive'' strategy that could lead to more job cuts. Already 4000 staff have been laid off and the airline aimed to make savings of a further $150 million a year. The airline had 12,500 staff before the Covid-19 crisis.

Its shares were trading up 13c this afternoon at $1.78.