September 30, 2022
Air New Zealand Mulls Leasing Aircraft to Bolster Operations
Airlines Industry

Air New Zealand Mulls Leasing Aircraft to Bolster Operations

DALLAS – As the significant return of travel demand continues to cause disruptions to the aviation industry, Air New Zealand (NZ) is considering options to bolster its operations.

One of the options being considered by the airline is a wet-lease contract for a widebody aircraft for the busy summer period. The airline is expecting to operate 90% of its pre-COVID domestic and international capacity for the next six months.

In a statement, Air New Zealand’s Chief Executive Officer, Greg Foran, said, “We know customers want the Air New Zealand experience, and that’s what we want to deliver too.” 

He continued, “But at the moment we’re stretched to capacity, and making sure our customers are able to travel is our top priority. The lease of an additional crewed aircraft may help us achieve that.”

Additionally, Foran detailed steps being taken by the airline to shore up its operations, including the hiring and rehiring of more than 2,000 employees, ranging from pilots and cabin crew to engineers and airport staff.

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EVA Air Boeing 777 leased to Air New Zealand (Photo: Luca Flores/Airways)

What Are the Options?

Due to the complex and quickly changing nature of the aviation industry, various types of aircraft leasing are a popular option among many operators.

The two main types of leasing include dry leasing, which generally only involves the leasing of the aircraft itself, while wet leasing includes the aircraft and a crew to operate it.

Some charter airlines, such as HiFly Airlines (5K), specialize in wet leasing a wide variety of aircraft types to airlines globally.

HiFly has become a popular choice for airlines globally as they look to fill in gaps in their operations.

Another option for NZ could be to lease from another airline, which has occurred in the past. In fact, in 2018, NZ leased a Boeing 777-300 from EVA Air (BR) until the aircraft was withdrawn from use and stored in March of 2020, presumably due to the emergence of COVID-19.

Featured Image: Daniel Gorun/Airways

Deputy Editor
Deputy Editor at Airways Magazine. Born and raised New Yorker. Get in touch:

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