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Nikhil Ravishankar

๐Ÿ‘ค Speaker
84 total appearances

Appearances Over Time

Podcast Appearances

The Mike Hosking Breakfast
Nikhil Ravishankar: Air NZ CEO on their projected full-year pre-tax loss rising to $390 million

And from that point on, I fear that the recovery to normal might be a slow sort of drag, a sting in the tail.

The Mike Hosking Breakfast
Nikhil Ravishankar: Air NZ CEO on their projected full-year pre-tax loss rising to $390 million

That's right.

The Mike Hosking Breakfast
Nikhil Ravishankar: Air NZ CEO on their projected full-year pre-tax loss rising to $390 million

We've been working on building a very big and healthy war chest post-COVID.

The Mike Hosking Breakfast
Nikhil Ravishankar: Air NZ CEO on their projected full-year pre-tax loss rising to $390 million

And so at this stage, that is not an issue.

The Mike Hosking Breakfast
Nikhil Ravishankar: Air NZ CEO on their projected full-year pre-tax loss rising to $390 million

Yeah, at this stage, you know, we've done about 5% of consolidations.

The Mike Hosking Breakfast
Nikhil Ravishankar: Air NZ CEO on their projected full-year pre-tax loss rising to $390 million

So reduce flying frequency by 5%.

The Mike Hosking Breakfast
Nikhil Ravishankar: Air NZ CEO on their projected full-year pre-tax loss rising to $390 million

That takes us out till the end of the July school holidays.

The Mike Hosking Breakfast
Nikhil Ravishankar: Air NZ CEO on their projected full-year pre-tax loss rising to $390 million

And as we speak, we're looking at whether we make further cuts.

The Mike Hosking Breakfast
Nikhil Ravishankar: Air NZ CEO on their projected full-year pre-tax loss rising to $390 million

That could be either just extending that 5% of cuts into the subsequent three months or going a little deeper.

The Mike Hosking Breakfast
Nikhil Ravishankar: Air NZ CEO on their projected full-year pre-tax loss rising to $390 million

And that's the piece of work that we're doing.

The Mike Hosking Breakfast
Nikhil Ravishankar: Air NZ CEO on their projected full-year pre-tax loss rising to $390 million

Even if we were to go down a little deeper in terms of how much cuts we take, it won't be materially different.

The Mike Hosking Breakfast
Nikhil Ravishankar: Air NZ CEO on their projected full-year pre-tax loss rising to $390 million

In some cases, we'll paint the wall another day.

The Mike Hosking Breakfast
Nikhil Ravishankar: Air NZ CEO on their projected full-year pre-tax loss rising to $390 million

So like households around the country, we're going to tighten our belts too.

The Mike Hosking Breakfast
Nikhil Ravishankar: Air NZ CEO on their projected full-year pre-tax loss rising to $390 million

We have to trim some of the discretionary spending.

The Mike Hosking Breakfast
Nikhil Ravishankar: Air NZ CEO on their projected full-year pre-tax loss rising to $390 million

We are doing that.

The Mike Hosking Breakfast
Nikhil Ravishankar: Air NZ CEO on their projected full-year pre-tax loss rising to $390 million

But in a lot of cases, if it relates to running a reliable, safe, punctual service for our customers, we won't be skimming on that.

The Mike Hosking Breakfast
Nikhil Ravishankar: Air NZ CEO on their projected full-year pre-tax loss rising to $390 million

Do staff get cut?

The Mike Hosking Breakfast
Nikhil Ravishankar: Air NZ CEO on their projected full-year pre-tax loss rising to $390 million

We are looking at cuts in that space, specifically in sort of the indirect workforce.

The Mike Hosking Breakfast
Nikhil Ravishankar: Air NZ CEO on their projected full-year pre-tax loss rising to $390 million

How many?

The Mike Hosking Breakfast
Nikhil Ravishankar: Air NZ CEO on their projected full-year pre-tax loss rising to $390 million

We haven't worked that out yet, Mike.