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Saturday 21 May 2022

Freightways warns of Omicron costs of up to $7m

10th May 2022 By Staff Reporter | | @foodtickernz

Freightways says the impact of Omicron on its business could be as much as $7m due to lower volumes and higher operating costs due in part to absent staff.

“We expect that the impact on earnings from Omicron through lower revenue and an increased cost base is approximately $5m-$7m for the second half of the year,” said the company on Monday in a trading update.

The transport company said about 1,000 staff had to isolate on full pay during March and April, which led to increased costs hiring and training temporary staff, but lower productivity due to less experienced employees.



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