Air New Zealand establishes $250 million revolving credit facility

Air New Zealand has established a new three-year NZ$250 million ($153.1 million) unsecured syndicated revolving credit facility on May 28, 2024. The facility is provided through participation from Australasian and global banks. The facility will serve as standby liquidity support to the airline in line with its updated capital management framework previously announced in August 2023. The new facility replaces the previous NZ$400 million ($240 million) unsecured committed crown standby facility, which was entered into as part of the airline’s recapitalisation package on March 30, 2022, before it was subsequently cancelled on March 25, 2024. The cancelled facility had “never