“It is effectively temporary, to provide the liquidity essential to Air New Zealand in its current state. With that loan in place, the airline is able to put off any market approach, thereby providing a window for any alternative restructuring plan to be developed between the company and the Government.”
Like the Government, Air New Zealand went hard and early in its response to Covid-19. Just days into New Zealand’s alert level 4 lockdown in March the airline said it would be downsizing to a third of what it was pre-pandemic.
The Government needs to give Air New Zealand a timely response on its future capital structure so the airline can get on with what it needs to do, including accessing debt or equity from international markets, the National Party says.
Southern Cross’ market research found people’s key reasons for purchasing domestic travel insurance were concerns their travel may have to be cancelled (57 per cent), greater awareness of the importance of travel insurance (38 per cent), and that they were more likely to travel domestically because they can’t holiday overseas due to Covid-19.
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“It does depend on the mix of passengers, so for example a husband and wife, they are in a bubble together, if a family of four book, they are considered to be a single bubble too.
NZ Ski chief executive Paul Anderson said he had recently spoken to five families who had received refunds for planned September / October school holiday trips to Bali, Vietnam and the Gold Coast, but they were now looking at spending that time in places like Queenstown and Wanaka.
While there will be fewer international airlines than there were before the pandemic initially, “I think very quickly we’re going to see a situation where new airlines start up in a global setting using the distressed assets of those that came before them. And those that have survived will be able to upscale again more […]
Domestic air travel has seen a partial rebound after declines in passenger numbers of 95 per cent in the spring. But international passenger volumes have not returned. The Bureau of Transportation Statistics said this week that there were just 1.1 million travellers on international flights in July, a decline of 90 per cent from the […]
AJ Hackett Bungy NZ refused repeated requests for an interview, but documents obtained under the Official Information Act show it sought emergency assistance from the Government in late May, and just days later it got the thumbs up after signing a declaration it had explored and exhausted private or commercial finance sources.