Air New Zealand (ASX:AIZ) defers capital raise with Crown

Company News

by Lauren Evans

Air New Zealand (ASX:AIZ) deferred its planned capital raise with Crown until the first available window in calendar year 2022. 

The New Zealand airline received a letter from the minister of Finance, noting that the current environment at this time is not sufficiently stable enough to enable the Crown to provide a firm pre-commitment to support the planned equity raise.

This follows the Governments phased approach to reopening borders and in 2022, a phased introduction of an individual riskbased approach to border settings that will establish various pathways of entry into the country.

Given the critical role that the airline has in New Zealand’s economy and society, the Crown has again confirmed its longstanding commitment to maintaining a majority shareholding in Air New Zealand.

Shares in Air New Zealand (ASX:AIZ) are trading 1.43 per cent higher at $1.42.

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