Air New Zealand says it's drawn about $110 million from the government standby loan aimed at helping it through the pandemic.
The company held its annual meeting today, where it told shareholders it has about a billion dollars backing but is burning cash at a rate between $65 to 85 million a month.
Its chief executive, Greg Foran, says the airline will remain under pressure for some time but in the near term it would be a smaller, domestic focused airline.
