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Photo: Steve Creedy.
The New Zealand government has confirmed that it will participate in the airline’s capital raise to support it through the COVID-19 pandemic.
In a letter to Air New Zealand Chairman Dame Therese Walsh, the Crown said that subject to Cabinet being satisfied with the terms of Air New Zealand’s proposed equity capital raise to be completed by 30 June 2021, it would participate in that equity capital raise in order to maintain a majority shareholding in Air New Zealand.
In the letter, Deputy Prime Minister and Minister of Finance Grant Robertson recognized the importance of a strong domestic air travel network for economic and social development purposes and the key role of Air New Zealand in supporting our international tourism and export industries.