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Air New Zealand cancels final parcel of redeemable shares held by New Zealand government
November 29th 2022
Air New Zealand (Air NZ) has redeemed the remaining NZ$200 million (US$124 million) of redeemable shares on issue to the New Zealand government, or Crown. Read More » The airline issued NZ$600 million in redeemable shares to the Crown in April and May this year as part of its recapitalisation program. It redeemed NZ$400 million of the shares in August. At the time, the company said the remaining $200 million bundle would be redeemed as the airline’s recovery progressed. “The redemption today is the final redemption. This facility is now cancelled,” dual-listed Air NZ said in regulatory filings to the Australian and New Zealand stock exchanges.
