Air nz cancelled our domestic flights and gave credit instead of refund.

Forums › Travel (planes, train, cruise) › Air nz cancelled our domestic flights and gave credit instead of refund.

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Handle9

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#2601232 10-Nov-2020 18:29

nova:

Quite likely the shareholders agreed to it some time ago. There was a long term incentive plan approved in 2015, and this may have been issued as part of that, but in any case I don't think it went to the shareholders for approval in the last few months.

Personally I believe that company executives are paid too much, but that is a different question to how they are paid. Using a mixture of base pay plus equity is better for the operating cash flow of the company than funding the CEO remuneration entirely with cash.

This was approved in October but the rights issue is in 2023 if the agreed KPIs are met. If the KPIs don't get met they get nothing (as they did in in 2015-2020 incentive program).

The headline doesn't look great but there isn't actually anything unusual or inappropriate here.

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#2601233 10-Nov-2020 18:32

networkn:

Geektastic: It’s good to see that they could afford to give the executives millions in share options but couldn’t afford to return our money. Oh. Also they needed to borrow more from us as well.

That's a disgrace. All those staff furloughed or outrightly dismissed and executives are still getting shares.

That's manifestly untrue. In fact the 2015-2020 incentive scheme meant that there were no share options issued as the KPIs weren't met.

Have you read how the incentive scheme works?

duffles

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#2630721 5-Jan-2021 13:32

Just wanted to share my experience with Air NZ. It was an international flight though.

My partner and I had booked a trip to Japan in May 2020. As the travel date approached, heavier and heavier restrictions were being put in place. However, our flight hadn't been cancelled.
A few weeks before the flight, I got an email to say that the flight was cancelled and received a credit for the full fare. I was fine with this since I had no desire to fly internationally anymore, given the state of things. Hotels etc weren't an issue as we were going to be staying with friends. We were lucky there.

After seeing a few horror stories about requesting refunds, I thought I'd let the credit sit there until things settled down. The money was already spent, so it wasn't a big deal.

Recently, I've seen that Japan is having a bit of a rough go of it. Sounded like our trip might be put off even further and neither my partner or I were interested in flying around NZ or anything. We decided it might be for the best to get our money back for another purchase and revisit this plan another time.
After trawling through Air NZ's website for advise on refund eligibility, most things pointed toward needing to call their Customer Care team. I was dreading this. I've seen instances of hour(s) long hold times and outright refusal of refunds. This was fairly early days though, I told myself that they've likely tidied up some processes.
Some context: I didn't book a flexi ticket so presumably, I was up the creek without a paddle - my bad for being a cheapskate. I went into the call with a open mind and basically accepted the fact that I'd have a credit. Again, the money was spent so I wasn't sweating it too much.

Today, I called the toll free and got an answer within seconds. Provided my details and a brief description of my situation - basically that I was pretty set on one destination which is seemingly a no-go for a while. The agent looked up a couple of things and said I was eligible for a refund. The only string attached was that I had to eat a $150 per trip/per person fee due to booking a standard ticket. - i.e. CHC - NRT ($150*2), NRT - CHC ($150*2). Seemed fair to me since I didn't pay for the privilege of flexibility. I received a credit note while on the phone and was advised 10-15 working days for the CC chargeback, which is fairly standard.
Within 10 minutes or so of picking up the phone, I was sorted.

Chalk up a positive experience for this guy.

Cheers.

They say he carved that spoon himself.. From a bigger spoon..
Any comment made here is my own and should not be taken as that of my employer. You've seen one of these statements before.

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