Why hasn't Air NZ moved to the airport? | Herald NOW Business

Why hasn't Air NZ moved to the airport? | Herald NOW Business <!--mynz:youtube-chapters--> {"v":1,"chapters":[{"timeSeconds":0,"label":"Air NZ's Failed Airport Move","summary":"Two years ago, Air New Zealand planned to move its headquarters to a building at the airport. This move never happened."},{"timeSeconds":12,"label":"Ann Gibson Investigates","summary":"Ann Gibson from Herald Property is investigating why the planned move did not occur. She is looking into the reasons behind the decision."},{"timeSeconds":29,"label":"Cost Savings Announcement","summary":"In 2022, Air New Zealand announced plans to move to the airport, citing cost savings as a primary reason. They aimed for a 20% saving over 15 years."},{"timeSeconds":44,"label":"Original Timeline Missed","summary":"The initial plan was for the move to happen in 2020. This deadline was missed, and the company was surprised by the lack of market interest in their old building."},{"timeSeconds":55,"label":"Economic Downturn Impact","summary":"The economic downturn and recession starting in 2022 likely impacted the demand for office space. This may have contributed to the delay in the move."},{"timeSeconds":114,"label":"Underestimated Tenant Demand","summary":"It is suggested that Air New Zealand may have underestimated the demand for tenants in their current building. This could have affected their decision to move."},{"timeSeconds":130,"label":"Blackstone Owns Building","summary":"The building Air New Zealand currently occupies is owned by Blackstone, a large American fund manager. They are a significant landlord in the area."},{"timeSeconds":155,"label":"New Timeline and Staff","summary":"Air New Zealand announced in 2022 that they would stay at 185 Fanshawe Street until 2035. This move was planned to accommodate around 500 staff."}]} <!--/mynz:youtube-chapters-->