Rescue for Air New Zealand

The Wellington government announced tonight it would take a major stake in ailing national carrier Air New Zealand, pumping 885 million New Zealand dollars (£253 million) into the airline in two stages.

Rescue for Air New Zealand
Thu, 04 Oct, 2001 - 00:25

The Wellington government announced tonight it would take a major stake in ailing national carrier Air New Zealand, pumping 885 million New Zealand dollars (£253 million) into the airline in two stages.

Finance Minister Michael Cullen said the rescue package a loan and a share buy-in was designed ‘‘to ensure the future viability of Air New Zealand’’.

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