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Friday 5th September 2008 |
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"In the current market of static growth, demand must be stimulated by having better product than your competitors, or better pricing," said Glen Sowry, manager of Tasman and Pacific services.
The new fares, effective Oct. 14, coincide with the introduction of airline's refitted A320 and Boeing 767 aircraft that fly the Tasman and Pacific Island routes. The planes have had a NZ$40 million spend on passenger services such as entertainment systems.
Sowry said the airline cut prices to stimulate demand on Tasman routes, where there is surplus capacity.
Air New Zealand stock fell 1.7% to NZ$1.14 and has declined 45% in the past 12 months.
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