Can Air NZ extract a better deal from the government?

Playing for time may end up suiting the national carrier

Fri, 26 Feb 2021

Air New Zealand has only drawn down a third of the near-billion-dollar lifeline thrown to it by the government last year, giving the airline greater flexibility when it comes to hitting up the wider market for the funds needed to fly through the pandemic.The national carrier yesterday said it has access to about $700 million — of which $550m is from the government’s $900m facility to keep it afloat — with a razor-sharp focus on costs helping it keep a tight rein on its cash burn.That’s expected to drop to between $4...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Stay informed on business, government and financial developments across New Zealand.
Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets Market Close

NZ sharemarket dips as interest rates cut

The S&P/NZX 50 Index closed at 13,033.36, down 17.76 points or 0.14%.

Staff reporters 6:30pm

Economy

RBNZ plans more cuts sooner rather than later

The forecasts show the low at 3.1% by December this year.

Rebecca Howard 2:30pm

RBNZ plans more cuts sooner rather than later

Economy

RBNZ eases by 50bps and brings forward planned rate cuts

It now expects the cash rate to reach 3.1% in December.

Rebecca Howard 2:00pm

RBNZ eases by 50bps and brings forward planned rate cuts

Sponsored

Study NZ’s top MBA – on your terms

A world-class master's that fits around work and family life.

University of Aukland Business School

Sponsored

Investing in US technology: Navigating a high-speed sector

A new exchange-traded fund gives Kiwis access to US tech giants.

Smart Invest

More Markets

Markets Market Close

NZ sharemarket dips as interest rates cut

The S&P/NZX 50 Index closed at 13,033.36, down 17.76 points or 0.14%.

Staff reporters 6:30pm

Markets

NZME confirms job cuts

About 30 roles are being cut from the NZ Herald newsroom, and several well-known journalistic names – including the political editor – have opted for voluntary redundancy.While the company has reduced the overall number of net redundancies from about 38 to 30, it still expects to...

Staff reporters 1:25pm