July 30 (Reuters) - Air New Zealand ( ANZFF ) on
Wednesday named Nikhil Ravishankar as its next chief executive,
replacing outgoing CEO Greg Foran, as the airline contends with
deepening supply chain and engine disruptions that are expected
to weigh on earnings through 2025.
Foran, who joined the airline just as the COVID-19 pandemic
loomed, announced his resignation earlier this year, and would
be leaving in October. The flag carrier continues to grapple
with global supply chain disruptions and persistent engine
maintenance issues.
Ravishankar, who has served as Air New Zealand's ( ANZFF ) chief
digital officer for nearly four years, will assume the top job
on October 20. Prior to joining the airline, he held leadership
roles at Vector and consulting firm Accenture ( ACN ), where he
was managing director.
"Airlines will continue to face immense challenges, whether
that's climate change, customer expectations, technology, cost
pressures or geopolitics," said Chair Dame Therese Walsh.
"Nikhil brings a fresh perspective that is grounded in New
Zealand values and a deep knowledge of the airline and critical
infrastructure across different sectors."
Air New Zealand's ( ANZFF ) struggles have been compounded by a
relatively small domestic market and fierce competition from
Australian carriers Qantas Airways ( QUBSF ) and Virgin Australia
. It has also seen delayed plane deliveries and several
jets being grounded.
Foran, a former Walmart executive, has led the Kiwi
flag carrier through a turbulent period, with the airline facing
unique hurdles compared to its global peers, partly due to its
geographic isolation.
The carrier had earlier flagged that up to 11 of its
aircraft would remain grounded at times in the second half of
fiscal 2025, which would bite into the firm's earnings.
The company is also expecting lower earnings in 2025, citing
uncertainty around global engine maintenance delays and related
compensation levels.