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Air New Zealand has announced a major plan to recapitalise - after two years of economic turbulence. Â
The $2.2 billion package will enable the airline to repay its existing Crown loan and position the company for recovery post-pandemic. Â
The vast majority is made up of a $1.2 billion Rights Offer of new ordinary shares.Â
Chair Dame Therese Walsh says there will also be a $600 million issue of redeemable shares to the Crown. Â
She says finally, there will be a new $400 million Crown loan facility to replace the existing Crown loan facility.Â
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