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Executive Share Offers Will Further Damage Airline’s Recovery, Union Says

Aviation union members are “incensed” after hearing the news that a multi-million-dollar share offer has been given to Air New Zealand’s CEO, including offers to the executive team.

On Friday, the New Zealand stock exchange showed CEO Greg Foran issued with rights to around $2.03 million worth of shares.

Six other members of the executive team were also issued rights of a lower value, including former executive Cam Wallace.

With around 4000 of the airline’s crew having already lost their jobs and hundreds of 787 crew set to be made redundant before Christmas, workers have described the airline’s actions as “tone-deaf”.

“I’ve never seen crew so upset as they were over the weekend. It’s just another kick while they’re already down as crew numbers are being decimated,” says one worker.

“This flies in the face of Air New Zealand’s internal programme around rebuilding, which is about supporting from within and looking after staff in order to look after the customer. This is not looking after staff.”

Some crew have found themselves relying on benefits as their incomes have dropped, the worker says.

Another airport worker who prefers to remain anonymous says, “People are losing their jobs. This is completely insensitive.”

E tū Head of Aviation Savage says union members are foregoing pay increases and not collecting contractual performance bonuses to help the airline save money.

“For the board and the executives to take the share options at this time will do nothing to rebuild the airline’s performance. Workers are incensed – it’s rubbing salt into an already painful wound,” he says.

“The announcement will further reinforce the view of union members that the company’s strategy needs a complete overhaul.”

Savage says the union will be taking up the issue of the share offers with Finance Minister Grant Robertson.

“Air New Zealand has drawn down on their government loan and it seems this public money is now being spent on lining the pockets of the senior management.

“The distribution of pay to staff needs to be fair, and the airline needs to retain and create decent jobs. Our national carrier should be something all Kiwis can be proud of, starting with looking after all its employees.”

© Scoop Media

 
 
 
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