Report card: Jacinda Ardern’s government graded on the past three years | New Zealand election 2020
When Jacinda Ardern took over leadership of New Zealand’s Labour party less than two months before the 2017 election she had the country’s social woes firmly in her sights, blaming nine years of a National party-led government for child poverty rates and housing unaffordability. Ardern promised a government of transformation, pledging to do better on the climate crisis, tackle mental health and suicide rates, and build tens of thousands of new homes.
Her ability to respond in a crisis – such as the Christchurch terrorist attack in March 2019, the deadly volcanic eruption at Whakaari, and Covid-19 – is well-documented and has drawn global praise. But domestically, she has had a political coalition as well as a pandemic to manage: Labour has been in power along with the Greens and New Zealand First.
She promised a strong and empathetic government and a “fairer, better New Zealand”. How has her
Air New Zealand has drawn down $72 mln of government loan
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
Air New Zealand has drawn down $72 million of government loan
SYDNEY (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 at the airline’s annual meeting, webcast from Auckland. Yes chairman not
Air New Zealand Begins Drawing Down Government Debt Facility, Flags Future Capital Raising | Investing News
SYDNEY (Reuters) – Air New Zealand Ltd
said on Friday it had begun to draw down on a NZ$900 million ($589.95 million) government debt facility that would give it time to review its capital structure and complete a capital raising by June 2021.
The airline said the New Zealand government had reaffirmed its commitment to maintaining a majority shareholding and its board was in constructive talks with the government about its capital structure and funding.
New Zealand is due to hold a national election on Oct. 17, with polls showing incumbent Prime Minister Jacinda Ardern is on track to win.
The airline had last month said it would need to draw down on the government loan to help it weather the severe loss in revenue during the coronavirus pandemic after it reported its first annual loss in nearly two decades.
Along with interest rates of 7-9%, the loan gives the