The proposed capital raising is now expected to be completed before September 30. “Safe to say it will be well in excess of $1 billion of new equity capital.”SUPPLIED The proposed capital raising is now expected to be before September 30. The Crown will provide an increased facility of up to $600 million, bringing the total available to Air New Zealand to $1.5 billion, to see it through until the capital raising. Air New Zealand would repay the money borrowed from proceeds of the capital raising. ”I recognise that the last 12 months has been an incredibly challenging time for Air New Zealand, and like others in the airline industry globally, Air New Zealand has required support from its shareholders,” Robertson said.

Source: Stuff April 08, 2021 20:58 UTC