Air New Zealand Limited (ASX: AIZ) notified the market about earnings expectations for FY 2020 and decline in demand for air travel. Key highlights are as follows.
- AIZ has no financial covenants on existing or new debt facilities and no major debt maturities until 2022.
- As at 25 May 2020, short-term liquidity is nearly $640 million, which excludes the funds from the loan facility of $900 million with the Government.
- Air New Zealand had executed several measures in every aspect of its capital expenditure and cost base portfolio.
- For FY 2021, the airline anticipated to decrease its average monthly cash outflows by nearly $50 million to $60 million.