Air New Zealand to raise NZ$2.20 billion to “thrive.”

Air New Zealand is to raise NZ$2.2 billion (US$1.53b) as part of a major capital raise to shore up the airline’s balance sheet as it prepares to fly out of the pandemic.

According to Air New Zealand chairwoman Dame Therese Walsh, the capital raise would allow the airline to “survive, revive and thrive”.

The recapitalisation package is in three parts:

• A $1.2 billion pro-rata renounceable Rights Offer, giving eligible shareholders an opportunity to buy additional shares at a discount to the prevailing share price. The NZ Government, which holds 51 per cent of the airline, will participate to read more ⇒

Source:: AirlineRatings.Com

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