Air New Zealand not yet drawn on government funding

25 May, 2020

Air New Zealand announced (26-May-2020) at the close of business on 25-May-2020, short term liquidity is approximately NZD640 million (USD390.9 million), not including any funds from the NZD900 million (USD549.7 million) loan facility with the New Zealand Government. Air New Zealand CFO Jeff McDowall said the carrier has not yet needed to draw down on the government loan facility as the carrier continues to "Utilise all available levers to reduce our cash burn and right-size the business to reflect the expectation that, for some time, our airline will be smaller than it was pre COVID-19". [more - original PR]