More moola for Air New Zealand

The new deal gives Air NZ the ability to issue up to $1b of non-voting redeemable shares to the Crown. (Image: Getty)

Tue, 14 Dec 2021

Air New Zealand will have access to an additional $500 million under a revised Crown support package, bumping the total to $2 billion.The airline is still targeting an equity raising for the first quarter of 2022 but said “it is important that the airline has sufficient flexibility to withstand presently unforeseen delays without relying entirely on increasing debt levels”. The airline – already decimated by covid-19 – has been hit by recent domestic lockdowns and the ongoing covid-related travel restrictions acros...

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