Air New Zealand used $ 72 million in government loans

SYDNEY, Sept. 29 (Reuters) – Air New Zealand Ltd said Tuesday that it has withdrawn NZ $ 110 million ($ 72.20 million) from a NZ $ 900 million government loan line to date as it claimed liquidity to help overcome the coronavirus pandemic.

The airline reiterated that it plans to report a second consecutive annual loss in the financial year ending June 30, 2021, and said it is unable to provide earnings guidance.

He said he had around NZ $ 1 billion in cash, of which NZ $ 215 million in cash and NZ $ 790 million remaining on the government loan line. The airline predicted it would burn NZ $ 65 million to NZ $ 85 million in cash per month under current conditions. ($ 1 = New Zealand dollars 1.5235) (Reporting by Jamie Freed; Edited by Jacqueline Wong)


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