Airline unable to provide earnings guidance, expects loss
Has around NZ$1 billion of liquidity, still burning cash
Will refresh loyalty programme, improve digital tools
Adds comments from chairman and CEO
SYDNEY, Sept 29 (Reuters) – Air New Zealand Ltd AIR.NZ said on Tuesday it had drawn down NZ$110 million ($72.20 million) of a NZ$900 million government loan facility to date as it shored up liquidity to help weather the coronavirus pandemic.
The airline reiterated that it expected to report a second consecutive annual loss in the financial year ending June 30, 2021, and that it was not able to provide earnings guidance.
“With the outlook for future passenger demand clearly uncertain, and highly dependent on the removal of travel restrictions both here in New Zealand and globally, we know that Air New Zealand will continue to be a smaller business for some time to come,” Chairman Therese Walsh said