Air New Zealand CEO Greg Foran states that airfares are unlikely to decrease due to rising fuel costs.
Air New Zealand CEO Greg Foran explains that airfares are unlikely to drop due to rising costs, particularly fuel prices, which have increased from $85 per barrel last year to $105. A 7.2% increase in international airfares was observed in April compared to March, with fares up 47.7% in comparison to April 2019. Auckland Airport's Chief Customer Officer Scott Tasker emphasizes the airline industry's competitive nature and shared challenges from factors such as fuel, engineering costs, and inflation.
May 13, 2024
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