23 Jul 2020

Foran admits Air NZ underestimated severity of Covid-19

From Checkpoint, 5:07 pm on 23 July 2020

The boss of Air New Zealand has admitted the national carrier seriously under estimated the severity of Covid-19 and what it would mean for its business and customers.

During lockdown level 4 the airline was operation at just one percent of its usual revenue.

Air NZ hasn't dropped to the so called "cash floor" that would allow it to dip into the $900 million government loan facility.

Air NZ is 52 percent owned by taxpayers, and the minister responsible, Grant Robertson, said he is not categorically ruling out further financial support for the airline.