June 7, 2020 / 9:01 PM / a month ago

Air New Zealand targets 'healthy profits' by 2022

June 8 (Reuters) - Air New Zealand on Monday began the second phase of a coronavirus-enforced cost-cutting plan that it said will save around NZ$150 million ($97.53 million) and help it return to “healthy profits” by August 2022.

Chief Executive Greg Foran said in an email to customers and staff that the airline will engage with them and unions on how to further cut its wage bill, and warned more layoffs may follow as it works to trim down to 70% of its pre-COVID-19 size. (Reporting by Shashwat Awasthi in Bengaluru; editing by Diane Craft)

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