Photo / FileThe Government is extending its loan facility to Air New Zealand by $600 million as the airline defers its planned capital raise to later in the year. Air New Zealand is now targeting its equity capital raise to be undertaken by September 31 to give the airline time to assess market conditions. The Government has also agreed to extend and renegotiate the loan facility, so Air New Zealand has sufficient liquidity to take the airline through to the capital raise. "All amounts outstanding under the loan will be repaid from the proceeds of the proposed capital raise. The board expects the final capital raise structure to be a mix of debt and equity."

Source: New Zealand Herald April 08, 2021 21:32 UTC