Air New Zealand CEO: Expect Further Boeing Dreamliner Delays, Route Plans Hurt

Air New Zealand Ltd. (AIR.NZ) expects further delays in the delivery of Boeing Co.'s (BA) 787 Dreamliner aircraft and doesn't plan to introduce services using that aircraft until mid-2014, Chief Executive Rob Fyfe said Wednesday.

"It will be a great aircraft when it finally arrives, but the delays have certainly caused us some real concerns and created a number of risks," Fyfe told Dow Jones Newswires in an interview. The carrier is currently scheduled to receive its first Dreamliner by the end of 2013.

Fyfe added that some of the possible routes for Air New Zealand can only be operated by one carrier, and the entry of a competitor would rule Air New Zealand out. He didn't identity those routes.

The Auckand-based airline, 76.5% owned by the government, also has no plans to further raise its stake in Virgin Australia Airlines (VBA.AU), Fyfe said. Last month, Air New Zealand said it would raise its stake in Virgin by as much as 5%, up to a maximum of 19.99%.

"We see Virgin as the most valuable regional partner we could work with in the Australiasian region, if we are to provide a counterbalance to Qantas-Jetstar route position," he said.

-By Gaurav Raghuvanshi, Dow Jones Newswires; +65 64154 154; gaurav.raghuvanshi@dowjones.com

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