This in turn reduced aggregate demand of goods and services (especially luxuries or those with elastic demand) including housing units whereas demand of necessities remained same. In short, the prices of property units plummeted that adversely affected financial position of aforementioned actors. In short, they suffered huge losses and decline in wealth and signed bankruptcies and declared themselves as defaulters. This not only shattered consumer confidence across US but also in many advance economies and thus resulted in negative economic growth. The developing countries that are dependent on developed West for trade also faced the pinch of economic meltdown and contraction in advance economies. (Shah, 2009)
Air New Zealand is top quality air travel services provider at affordable prices that also offers related services such air ticketing, customer handling and commercial cargo handling in Australia, New Zealand, North America, Asia Pacific and European nations. The company faces competition with major airlines such as Qantas, Virgin Blue etc. Indeed, it is a state-owned company as government enjoys more than 70% stake in Air New Zealand. (Web: Airnewzealand.co.nz)
The airline mainly attracts customers from New Zealand and Australia since it offers innovative and differentiable services that in turn creates clear and unique image in the mind of customers. Quite unequivocally, the airline believes in flexibility and adaptability (McChesney, p.14, 2009) to macro environment changes in order to gain a competitive edge over its rivals. Indeed, the top management has adopted and implemented the principles of new workplace including team-building, continuous learning and experimentation, benchmarking etc. to become the most reliable air travel services provider. Air New Zealand has a fleet of 99 aircrafts, majority of which are purchased from Boeing for passenger services. The company received ...
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