Silence from Government and Air NZ raises questions about future ownership

“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.”

Shane Jones calls for Air NZ chair to step down, asks CEO to step down or shut up

The Government owns 52 per cent of the company, but it operates as a commercial business with no public service obligations other than returning a profit. Air New Zealand is not covered by the State Owned Enterprises Act, but is run as a private company under the Companies Act.

Air NZ’s cash crunch: Shane Jones accuses airline board of delaying raising funds

By underwriting a capital raise the Government would guarantee the raising of funds by picking up any shortfall of rights that shareholders did not subscribe to, while also taking up the rights of its existing shares, potentially resulting in the Crown holding a greater stake in the airline.

Brain drain: Loss of leadership experience at Air NZ raises culture concerns for union

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.

Coronavirus: Air NZ extends Boeing 777 groundings as international recovery outlook worsens

READ MORE:Coronavirus: Three Air New Zealand Boeing 777-300ERs flown to plane graveyard in US desertAir New Zealand scraps idea of converting aircraft to cargo freightersCoronavirus: The Air NZ 777-200ER planes which may never fly again

Iraq-Egypt Oil Pipeline Through Jordan: Breath of Fresh Air for Iraqi Economy

Alongside the destruction wrought by two US ground invasions in the country in recent times, al-Mashhady stressed that a number of projects have been frozen because of ongoing terror actions, various crises and internal problems in Iraq. A new oil pipeline with Jordan and Egypt willclearly benefit Iraq.

With most services unavailable due to Covid-19, flying business class has started to feel more like economy

Some airlines will use the pandemic to permanently downgrade their offerings in premium cabins to save money, said Jeremy Clark, who runs Malaysia-based JC Consulting, which advises carriers on catering and service. That means many airline-dependent suppliers will shut, limiting the scope for on-board dining and service to bounce back to pre-pandemic levels when travel […]

Signs of normalcy: Life insurers post 15% rise in new premiums in August

Among the listed insurers, ICICI Prudential Life Insurance saw a 14.5 percent YoY decline in new premium to Rs 892.31 crore in August. HDFC Life Insurance saw a 44.7 percent YoY increase in new premium to Rs 1,903.96 crore, while SBI Life saw a 26 percent YoY growth to Rs 1,805.8 crore.

Dreamliner groundings could drag on for Air New Zealand as Rolls-Royce announces delay

For the past 18 months Air New Zealand, along with other global airlines, have had to undertake earlier than expected maintenance on Rolls-Royce Trent 1000 engines fitted to Dreamliner aircraft after engine blades showed signs of corroding or cracking prematurely.

Dire outlook for Norfolk Island tourism with Air New Zealand flights cut

“We were hoping for a recovery phase from October onwards and now clearly that is not going to happen, with the reduced schedule with Air New Zealand deciding unilaterally to reduce its schedule with just two flights out of Australia until 27 March.