Photo: AFP
Air New Zealand has deferred its plans to raise capital until 2022, after the government says it is unable to support the equity raise in the current economic environment.
The national carrier was set to tap the market for new capital by the end of September, with part of the funds being used to pay back its loan to the government.
But in a letter from the Minister of Finance to Air New Zealand's chair, Grant Roberson says the current environment is not sufficiently stable for the crown to provide a pre-commitment to the equity raise.
RNZ's Gyles Beckford explains.
