Air New Zealand taps digital chief as next CEO to steer firm through challenges
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 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.N), opens new tab, 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 struggles have been compounded by a relatively small domestic market and fierce competition from Australian carriers Qantas Airways (QAN.AX), opens new tab and Virgin Australia (VGN.AX), opens new tab. It has also seen delayed plane deliveries and several jets being grounded.
Foran, a former Walmart (WMT.N), opens new tab 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.
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