Air New Zealand says it continues to assess funding options available to it, in response to a recent media report about a potential capital raising.
The airline is listed on both New Zealand’s Exchange and the Australian Securities Exchange. It said in an 11 June stock-exchange disclosure: “Air New Zealand currently has a NZ$900 million ($590 million) facility from the [government] which has yet to be drawn. The company continues to assess its capital structure and the options available to it, including taking advice from professional advisers as required.”
Air New Zealand cites a report from the Australian Financial Review, regarding its considering various funding options including a potential capital raising.
The publication reported on 10 June that Air New Zealand has an 800-day plan to restore its financial health and is considering asking equity investors to help fund it.
In a separate 8 June disclosure, chief executive Greg Foran discussed the airline’s plans for the “next 800 days”.
He said: “We have set the annual results announcement in late August 2022, which is in around 800 days’ time, as the target date for Air New Zealand to report we are starting to earn healthy profits again even though we may be only 70% of our pre-Covid-19 size.”