News
Air New Zealand pushes back capital raising for a second time
August 16th 2021
Air New Zealand (Air NZ) has delayed the timing of a proposed capital raising for a second time after New Zealand deputy prime minister and minister of finance, Grant Robertson, wrote to the airline and said the current environment was not sufficiently certain and stable to enable the Crown to provide a firm pre-commitment to support the planned equity raising at this time. Read More » "In this context, the company has, in consultation with the Crown, decided to further defer its planned capital raising until the first available window in the first quarter of calendar year 2022," Air NZ chair, Dame Therese Walsh, said in a regulatory filing. In February, Air NZ announced it intended to conduct a capital raising, which would have both debt and equity components, by June 30. But in April the airline group pushed back the deadline to September 30. Dame Therese said the New Zealand government had confirmed its longstanding commitment to maintaining a majority shareholding in the airline. The government has also confirmed to Air NZ it would participate in an equity capital raising by purchasing the number of new shares necessary to retain its majority shareholding in the flag carrier.
