Revamped govt credit line gives Air NZ capital raise options: Foran

Air NZ CEO Greg Foran and chair Therese Walsh.

Fri, 09 Apr 2021

Air New Zealand’s renegotiated government credit facility gives the airline wiggle room to further delay its intended capital raising, the airline’s chief executive, Greg Foran, told BusinessDesk.He was speaking after the announcement that a capital raising originally timed for the second quarter of this year has been delayed to the third quarter and that the government has agreed to expand its $900 million credit facility to the national carrier to $1.5 billion.The newly expanded credit line is also offered on far less onerous comm...

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

Spark valuation plummets $1 billion as profit crashes

Spark has reported a 78% fall in net profit to $35 million in the first half of its 2025 financial year and reduced its full-year operating earnings guidance. However, it has maintained its revised full-year dividend guidance.Shares – already down 42% over the past year after two...

Staff reporters 1:10pm

Markets

Genesis weathers a tough winter

Genesis took a $69m gas hit, but still made $70m profit.

Ian Llewellyn 12:20pm

World

US aluminium buyers scramble for metal

Imported aluminium accounts for nearly 60% of US needs.

The Wall Street Journal 11:30am

Sponsored

A taste of NZ luxury at 40,000ft

Singapore Airlines upgrades in-flight dining with Sid Sahrawat.

Singapore Airlines

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

More Markets

Markets

Spark valuation plummets $1 billion as profit crashes

Staff reporters 1:10pm

Markets

Genesis weathers a tough winter

Genesis took a $69m gas hit, but still made $70m profit.

Ian Llewellyn 12:20pm

Markets

Sky TV takes a financial hit

Sky Network Television reported a net loss after tax of $1.7 million in what it has been described as a “challenging” and “difficult” six months, with the broadcaster's attention focused on moving its customers to a new satellite because of the ailing Optus D2 satellite.The p...

Staff reporters 10:25am

Markets

Spark lowers FY guidance

Spark has reported a 78% fall in net profit to $35 million in the first half of its 2025 financial year and reduced its full-year operating earnings guidance. However, it has maintained its full-year dividend guidance.A cost-cutting drive is set to intensify, implying more job cu...

Staff reporters 9:57am

Revamped govt credit line gives Air NZ capital raise options: Foran

More Markets

Your company has a subscription

Team