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)

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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