Air New Zealand (ASX: AIZ) share price takes off amid resignation news

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The Air New Zealand Limited (ASX: AIZ) The share price is climbing today as the chief operating officer of the company has resigned.

As of this writing, Air New Zealand shares are up 1.90% and trading at $ 1.61.

We’re taking a closer look at what could be driving the airline’s share price higher.

Air New Zealand COO takes charge of comparable company

In today’s statement, Air New Zealand informed that Chief Operating Officer Carrie Hurihanganui has resigned from her post.

Ms. Hurihanganui to leave airline for new CEO position at Auckland International Airport Ltd (ASX: AIA). The move will take place in early 2022, with Air New Zealand starting its process to appoint a replacement.

Ms Hurihanganui will replace Auckland Airport General Manager Adrian Littlewood, who is expected to complete his work on November 12. Airport Corporate Services General Manager Mary-Liz Tuck will serve as interim CEO.

What did the management say?

Commenting on the news, Air New Zealand CEO Greg Foran said:

Joining over 22 years ago as an international cabin crew member and leading over 6,000 people, Carrie has developed exceptional leadership skills and operational knowledge.

Carrie has done an exceptional job, especially since COVID began to impact our business. It was no small feat sustaining our operations across engineering, airports, flight operations, properties, supply chain, cabin crew and pilots during an ever-changing crisis …

The surprise loss of staff did not deter investors as Air New Zealand’s share price continued to climb.

With Australia considered New Zealand’s largest tourism market, a rise in the share price may reflect the accelerated rollout of COVID-19 vaccination in Australia, finally opening the doors to international travel.

The Australian federal government plans to resume international flights as early as next month.

Air New Zealand share price review

Over the past 12 months, Air New Zealand’s share price has risen by more than 20%, while the year-to-date remains stable.

Its shares jumped a notch in mid-August just ahead of the company’s fiscal 2021 results.

Air New Zealand has a market capitalization of approximately $ 1.81 billion and has approximately 1.1 billion shares outstanding.

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