Air New Zealand Defers Capital Raising by Three Months

2 min read | April 09, 2021 11:55 AM AEST | By Team Kalkine Media

Air New Zealand Defers Capital Raising by Three Months

Capital Raising Deferred to H2

The capital raising would now be completed before 30 September 2021, instead of 30 June – as was proposed earlier in February. The airline has signed a binding term sheet with the NZ government on this.

This was a joint decision taken by the airline and its majority shareholder – the Government of New Zealand, as informed by AIZ. The federal government of the country owns 52% of the stake in the company.

The airline attributed the delay to ongoing fluidic situation on travel restrictions and vaccination drive.

To help the airline tide over the crisis, the government is to enhance its credit facility by up to NZ$600 million. The earlier limit of the credit facility stood at NZ$900 million, and with this increase, the total size has jumped to NZ$1.5 billion.

Transurban Queensland To Raise Money

Meanwhile, Transurban Queensland – a majority-owned subsidiary of Transurban Group (ASX:TCL) – is planning to raise AU$2.6 billion through a fresh debt offering in Singapore markets.

The company plans to repay its existing debt using this new tranche of debt and for further expansion.

The company clocked losses of AU$77 million in six months ended 31 December 2020.

Also Read: Australia to promote tourism; to create travel bubble with Singapore

TCL was trading lower by 0.367% to AU$13.590.

Meanwhile, other travel stocks listed on the ASX also seem to be under pressure today. In the early hours of the trading session, Qantas Airways (ASX:QAN) was down by 0.370% to AU$5.400, Flight Centre Travel Group (ASX:FLT) was trading at AU$18.480, down 2.378%, and Webjet (ASX:WEB) was trading lower by 2.167% to AU$5.420.

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