ZB

Air New Zealand chair on $2.2 billion recapitalisation plan

Author
Newstalk ZB,
Publish Date
Thu, 31 Mar 2022, 7:29am
(Photo / Getty Images)
(Photo / Getty Images)

Air New Zealand chair on $2.2 billion recapitalisation plan

Author
Newstalk ZB,
Publish Date
Thu, 31 Mar 2022, 7:29am

Air New Zealand has announced a major plan to recapitalise - after two years of economic turbulence.  

The $2.2 billion package will enable the airline to repay its existing Crown loan and position the company for recovery post-pandemic.  

The vast majority is made up of a $1.2 billion Rights Offer of new ordinary shares. 

Chair Dame Therese Walsh says there will also be a $600 million issue of redeemable shares to the Crown.  

She says finally, there will be a new $400 million Crown loan facility to replace the existing Crown loan facility. 

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