Air New Zealand chairman Dame Therese Walsh stated (29-Sep-2020) the carrier's total available liquidity as of 25-Sep-2020 is approximately NZD1 billion (USD660.1 million), comprising NZD215 million (USD141.9 million) of cash on hand and NZD790 million (USD521.5 million) remaining on the Crown standby loan facility. The airline continues to expect average monthly cash burn between NZD65 million (USD42.9 million) and NZD85 million (USD56.1 million) on a go forward basis. Cash burn for Aug-2020 and Sep-2020 was higher than this, due to the timing of refunds, remaining redundancy payments and fuel hedge close out costs. The additional two week period of lockdown New Zealand entered in Aug-2020, and the subsequent weeks of social distancing requirements on aircraft also increased cash burn over the period. [more - original PR]
Air New Zealand outlines liquidity position as of 25-Sep-2020
29 September, 2020