Air New Zealand cancels $400 million Crown Standby Facility

Air New Zealand announces today it has cancelled the $400 million unsecured committed Crown Standby Facility (“the Facility”) which was entered into on 30 March 2022 as part of the airline’s recapitalisation package following the Covid pandemic.

The Facility was established to protect against uncertainty relating to the pandemic and New Zealand’s border re-opening but was never drawn on by Air New Zealand. The cancellation of the Facility now concludes the period of pandemic-related financial support provided by the Crown to Air New Zealand. The Crown remains a majority shareholder in the airline with a 51% holding.

The airline has appointed ANZ Bank New Zealand Limited and MUFG Bank, Ltd. as Mandated Lead Arrangers and Bookrunners in connection with the arrangement and syndication of a new unsecured revolving standby facility, expected to close before 30 June 2024.

Ends

•  Air New Zealand cancels $400 million Crown Standby Facility

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

KPG - Changes to the Kiwi Property Board
IKE - Timing of Quarterly Performance Update and Conference Call
January 17th Morning Report
ERD - Appointment of Interim Chief Financial Officer
Meridian Energy monthly operating report for December 2024
PaySauce Quarterly Market Update - Dec 2024
CHI - FY24 Results Date and Audio Conference Details
AIA - December 2024 Monthly traffic update
January 15th Morning Report
PF - Details of Interim Results Webcast