The Mike Hosking Breakfast •iHeart
Dame Therese Walsh: Air New Zealand chair announces $2.2 billion recapitalisation plan - The Mike Hosking Breakfast
The Mike Hosking Breakfast
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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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.
LISTEN ABOVE
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