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:

POT Financial Results for the year to 30 June 2025
MOVE FY25 Results for the year ended 30 June 2025
BPG - Completion of Retail Offer
Comvita releases results for the year ended 30 June 2025
August 29th Morning Report
Air New Zealand announces 2025 financial result
August 28th Morning Report
VSL - 2025 date of Annual Meeting of shareholders
WIN - Winton announces FY25 Annual Results
Meridian Energy Limited 2025 Full Year Financial Results