Govt throws Air NZ a $900m lifeline

Govt throws Air NZ a $900m lifeline
Paul McBeth
The government will loan Air New Zealand up to $900 million over the next two years to keep the national carrier afloat, and may convert that debt to equity.Finance Minister Grant Robertson today said the government stepped in to ensure the national airline – of which it owns 52 percent – can keep operating.The loan will come in two tranches - $600 million at an effective interest rate expected to be between 7 and 8 percent, followed by $300 million at a rate of 9 percent. While the loan will keep the airline operating, Air New Zealand will sti...

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