Auckland Airport has announced its CEO Adrian Littlewood and the board of directors will take a pay cut of 20 percent as uncertainty around the travel industry increases.
The company is also holding off on paying out its interim dividend to shareholders of 11 cents per share, which was due on April 3.
"We realise some of our shareholders may be disappointed, but we ask for their understanding amid these extremely challenging circumstances," said Mr Littlewood.
A wide range of cost cutting measures have been introduced at Auckland Airport this week, according to a statement released by the company this morning.
These include a hiring freeze, suspension of all discretionary spending and a review of work underway with external consultants.
"This continues to be a dynamic situation, and our focus remains on maintaining the airport operation and supporting the Ministry of Health and border agencies in protecting New Zealand against the spread of COVID-19," said Mr Littlewood.
Auckland Airport has also suspended its earnings guidance for the year to June 30.
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