Dame Therese Walsh: Air New Zealand chair announces $2.2 billion recapitalisation plan

Air New Zealand has announced a major plan to recapitalise - after two years of economic turbulence.  The $2.2 billion package will enable the airline to repay its existing Crown loan and position the company for recovery post-pandemic.  The vast majority is made up of a $1.2 billion Rights Offer of new ordinary shares. Chair Dame Therese Walsh says there will also be a $600 million issue of redeemable shares to the Crown.  She says finally, there will be a new $400 million Crown loan facility to replace the existing Crown loan facility. LISTEN ABOVESee omnystudio.com/listener for privacy information.