Tourism

Air NZ eating deep into emergency funding by next Feb

Pattrick Smellie
Thu, 28 Oct 2021

Air NZ eating deep into emergency funding by next Feb
Air NZ CEO Greg Foran believes the "end of covid" is now in sight. (Image: BusinessDesk)
Pattrick Smellie
Thu, 28 Oct 2021
Air New Zealand expects to have just $600 million of its government-funded $1.5 billion emergency credit line left in four months' time.Speaking at the national carrier’s annual meeting, chair Therese Walsh said the airline expects to have drawn down $900m of the Crown Standby Loan Facility, created to help the national carrier through the covid-19 disruptions, by next February, if current levels of activity are sustained over the summer months.That is primarily because delayed employee income tax payments totalling $300m cannot be ex...

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