Qantas may be in big trouble, but Air New Zealand is playing down any suggestion that it’s rubbing its hands together with glee and moving in for the kill.

Yesterday’s announcement of a significant profit downgrade, major job losses and capacity cuts for Qantas will have little effect on Air New Zealand, according to general manager marketing Steve Bayliss.

He says that instead of expending valuable time and energy watching what its rivals are doing, the airline is focusing on something much more important: pleasing its customers....