Markets

Air NZ expects FY2020 loss, says more changes coming

Rebecca Howard
Tue, 26 May 2020

Rebecca Howard
Tue, 26 May 2020
Air New Zealand hasn’t yet tapped into any funds from the government but confirmed it expects to report a loss this year, despite massive cost-cutting measures. The national carrier moved swiftly to obtain a loan facility of up to $900 million from the government as soon as international travel restrictions were announced. It currently has $640 million of short-term liquidity, versus $1 billion prior to the outbreak. That doesn’t include any of the $900 million. “We have not yet needed to draw down on the government loan facility, as w...

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