Greg Foran, chief executive officer of Air New Zealand Ltd., during an interview on Nov. 1, 2024.
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AirĀ NewĀ ZealandĀ announced on Thursday thatĀ CEOĀ GregĀ ForanĀ will step down in October after five years at the helm, as theĀ airline navigates global supply chain disruptions and ongoing engine maintenanceĀ challenges.
Foran, a former WalmartĀ executive, has led the Kiwi flag carrier through a turbulent period, with theĀ airline facing unique hurdles compared to its global peers, partly due to its geographic isolation.
NewĀ Zealand’s relatively small domestic market and intense competition from Australian rivals QantasĀ AirwaysĀ and Virgin AustraliaĀ have intensified theĀ airline’sĀ challenges.
JoiningĀ AirĀ NewĀ ZealandĀ just as the COVID-19 pandemic loomed,Ā ForanĀ tackled a series of crises, from persistent shortages of engine components to the recent grounding of up to 11Ā aircraft.
He also spearheaded a retrofit program for theĀ airline’s Dreamliner fleet, which is set for completion later this year.
The company’s chair, Dame Therese Walsh, hailedĀ Foran’s contribution in managing the significant global supply chainĀ challenges.
“While theseĀ challengesĀ impact our operations almost daily,Ā Greg’s relentless focus and global profile have been instrumental in mitigating the consequential disruptions on our customers”, said Walsh.
The company has not yet named a successor but confirmed that a global search for aĀ newĀ CEOĀ is underway.
In February,Ā AirĀ NewĀ ZealandĀ reported an 18% drop in first-half profit, reflecting theĀ broaderĀ impact of global engine maintenance issues affecting itsĀ AirbusĀ neo and BoeingĀ 787 Dreamliner fleets.
TheĀ airline’sĀ aircraft are powered by engines from Pratt & Whitney and Rolls-Royce, both of which have been affected by supply chain delays.
