Rob Fyfe bows out of Air New Zealand with projection for profits to double in 2013

Outgoing CEO Rob Fyfe punctuated his final delivery of annual results for Air New Zealand (ANZ) with a surprising and bullish call for underlying profits in FY2013 to double from FY2012's NZD91 million (USD73 million). It is a possible financial achievement as much as it is a testament to Mr Fyfe's legacy of completely turning around ANZ financially, operationally and culturally. Mr Fyfe attributed the projected higher profits to ANZ's agility to quickly implement business improvements because it has the backing of its employees.

It is a diametric comparison to ANZ's competitor across the Tasman, Qantas, which a week prior posted its first loss in nearly 20 years as it struggles to turnaround its business as it combats an alienated workforce. The mood was far more sour at ANZ when Mr Fyfe joined, but through diplomacy, frontline exposure and the occasional splattering of body paint, Mr Fyfe has created an all-around successful airline. It is a rare achievement.