Air NZ launches comprehensive recapitalisation package

Air New Zealand has announced a comprehensive NZ$2.2 billion recapitalisation package to help position the airline for recovery.

This package includes a $1.2 billion pro rata renounceable Rights Offer, allowing eligible shareholders an opportunity to buy additional shares in Air New Zealand at a discount relative to the prevailing share price, as well as NZ$600m of redeemable shares to be issued to the Crown under the existing subscription agreement and a new committed unsecured 4 year Crown Loan of NZ$400 million.

Air New Zealand updates FY22 loss guidance and will host a conference call on Thursday, 31 March 2022 with Chief Executive Officer Greg Foran and Chief Financial Officer Richard Thomson.