News
Air New Zealand establishes NZ$250 million credit facility
May 29th 2024
Air New Zealand (Air NZ) has boosted its liquidity with a three-year NZ$250 million (US$154 million) unsecured syndicated revolving credit facility. Read More » ANZ Bank New Zealand Limited and MUFG Bank Ltd. acted as the mandated lead arrangers and book runners for the deal. “This facility is provided through participation from Australasian and global banks and will serve as standby liquidity support to the airline in line with its updated capital management framework announced in August 2023,” Air NZ said in a regulatory filing. The company previously held a NZ$400 million standby credit facility with the Crown, or N.Z. government, as part of the airline's recapitalisation package as it was coming out of the pandemic. The facility, established in March 2022, was never drawn upon and was cancelled in March this year.
