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Air New Zealand to strengthen finances in first half of 2021

Air New Zealand to strengthen finances in first half of 2021

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Air New Zealand expects to strengthen its finances in the first half of next year.

Air New Zealand planes parked up at Auckland Airport during the Covid-19 pandemic.

Photo: Supplied/ Air NZ

The airline is now drawing on the $900 million government loan which is giving it time to tool at future options.

In a statement to the stock exchange, the airline said it was looking at how the Covid-19 pandemic may develop and the effect it would have on its operations, costs, aircraft needs, and capital needs.

It said the review should be done by early next year and if there was no further bad news caused by the pandemic it would plan to raise fresh capital by the middle of next year.

Air New Zealand is operating at nearly two-thirds capacity, virtually all of which is domestic services.

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