ANZ prepares further fare increases, savings initiatives

Air New Zealand CEO Rob Fyfe told Radio New Zealand listeners last week that further cost-cutting and capacity reductions are on the agenda as the carrier faces fuel costs that doubled to approximately NZ$2 billion in its fiscal year ended June 30. "We'll be doing everything we can to mitigate the deterioration of financial performance on our business,'' Fyfe said, adding, "There are routes where we may look at reducing capacity if we can't cover our costs. There are no routes that we would ...