Govt to keep stake

Wellington: The Government has confirmed it will keep its majority stake in Air New Zealand when the airline taps the markets for more money later this year.

The airline has said it will raise funds by June, although it is not yet known how much.

The carrier has been burning between $65 million and $85 million a month and has dug into the

$900 million government loan it secured in the early stages of the pandemic.

Exactly how much of that loan has been spent would be revealed when the company updated shareholders with its interim results.

Air New Zealand chair Dame Therese Walsh said the Government remained committed to its shareholding. — RNZ