Air New Zealand tails. By Rob Finlayson. Air New Zealand (ANZ) CEO Rob Fyfe has warned that approximately half of air travel is discretionary, making airlines highly vulnerable to the health of the economy as well as external events and shocks. “We also have no long-term control over our largest expense, which is fuel. Since 2002, the price of a barrel of oil has soared from $25 to an estimated $110 for 2011 and now represents 30% of our costs, up from 13% in 2002,” Fyfe ...

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