For the 2021 financial year Air NZ expects a loss before tax no more than $450 million. However, when this deferral scheme ends in October it has been estimated Air NZ will have a bill of about $310m. Further, Air NZ have access to a Crown loan facility which has been drawn by NZ$350m to help cover Covid-19 related costs. In order to simply cover its PAYE tax bill ($310m) and Government loan ($350m), Air NZ needs $660m, which is 38 per cent of Air NZ’s current equity value. A major NZ based stockbroker estimates that Air NZ will have to raise $1.2 billion.

Source: Stuff July 04, 2021 16:52 UTC